The Mexican peso was appreciated this Friday morning while investors digested a drop in consumer spending in the United States and focused their attention on the next meeting of the Federal Reserve.
US consumer spending, which accounts for more than two-thirds of economic activity, fell 0.2% in seasonally adjusted terms in December, according to official data.
The Mexican currency was quoted at 18.7140 pesos per greenback, with a gain of 0.40% against the Reuters reference price on Thursday, and heading to close the week positively.
“The exchange rate has shown a sideways behavior during the week, quoting most of the time around 18.80 pesos per dollar,” he said. Gabriela Sillerhead of analysis at Banco Base.
Sideways behavior typically occurs during cautious episodes, while the market awaits some relevant event,” he added.
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