The Mexican peso appreciated against the dollar this Friday. The local currency gained ground and ended a positive week as data from nonfarm payrolls in the United States and inflation in Mexico supported bets on higher rate increases.
The exchange rate ended the day at the level of 20.0302 units against a record of 20.1282 units on Friday, with data from the Bank of Mexico (Banxico). This meant an appreciation of 9.80 cents, which is equivalent to a variation of 0.49 percent.
The pair traded in a narrow range between a high of 20.1397 units and a low of 19.9908 units. The Dollar Index (DXY), which measures the greenback against a basket of six major benchmark currencies, was up 0.54% at 112.86 at the close.
US employers hired 263,000 workers in September. The number was higher than the expected 250,000. The unemployment rate fell to 3.5 percent. Mexico’s inflation remained stable in September at its highest level in 22 years.
“Speculation about the magnitude of the rate hike for the November Federal Reserve meeting will also depend on the US inflation data, which will be released next week,” CI Bank said in a note. analysis.
Compared to a record of 20.1271 units last Friday, the peso accumulated a loss of 9.69 cents, which is equivalent to a variation of 0.48 percent. The DXY accumulated a moderate gain of 0.61 percent for the week.
For next week, local operators await the publication of Banxico’s most recent meeting minutes, in search of clues about the authority’s position after its eleventh rate movement to a level of 9.25 percent.
jose.rivera@eleconomista.mx
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