The Mexican peso it is appreciated in front of the American dollar Wednesday morning. The local currency gains ground slightly after the market met a US inflation figure in line with expectations.
The consumer price index of the United States registered an advance of 0.5% at a monthly rate in December and at an annual rate, the figure was 7 percent. Inflationary pressure remains high, but not out of expectations.
The exchange rate stands at 20.3526 units per greenback, compared to yesterday’s close of 20.4059 units, with the data for Bank of Mexico (Banxico). This means an appreciation of 5.33 cents or 0.26 percent.
The pair operates in a limited range between a maximum of 20.4453 units and a minimum of 20.3167 units. The Dollar Index (DXY), which measures the greenback with a basket of six reference currencies, loses -0.36 to 95.28 points.
The dollar marked a new two-month low against that basket of currencies after the inflation report. The figures could reinforce expectations that the Federal Reserve it will start to raise rates from March.
The dollar has lost strength after the speech yesterday by Jerome Powell, the chairman of the Federal Reserve, who showed a less aggressive tone than was feared in the market after the minutes of the December meeting.
jose.rivera@eleconomista.mx