Mexican peso recovers ground attentive to comments from Federal Reserve officials

The Mexican peso slightly appreciated against the American dollar this Monday morning. The local currency recovers ground in a market attentive to the comments of some officials of the Federal Reserve (Fed), looking for clues about his next steps.

The exchange rate spot It is located at the level of 19.4779 units compared to the close of 19.4920 units on Friday, with the official data of the Bank of Mexico (Banxico). This means a recovery for the peso of only 1.41 cents, which is equivalent to 0.07 percent.

The crossing operates in an open range between a maximum of 19.5735 units and a minimum of 19.4520 units. The Dollar Index (DXY), which measures the greenback with a basket of six references, recovers 0.74% and stands at 107.08 points, after a strong weekly drop.

“Because relevant economic information is not expected in the session, the markets will be attentive to the comments of Federal Reserve officials,” said Gabriela Siller, director of economic analysis at local Banco Base in a report for her clients.

Later this day, Fed Vice Chair Lael Brainard is expected to speak in a discussion on the economic outlook. Subsequently, the head of the New York Fed, John Williams, will moderate an event at the Economic Club of New York.

jose.rivera@eleconomista.mx

With information from Reuters