Peso closes positive week awaiting the announcement of the Federal Reserve

The Mexican peso closed with a moderate profit the operations of this Friday. The local currency appreciated in a cautious and aimless market that awaits the first monetary policy decision of the Federal Reserve of 2023 next week.

The exchange rate closed at the level of 18.7664 units against a record of 18.8050 units yesterday, with official data from the Bank of Mexico (Banxico). That meant an advance of 3.86 cents for the currency, equivalent to a 0.21 percent variation.

The pair operated in a narrow range with a maximum of 18.8290 units and a minimum of 18.7163 units. The Dollar Index (DXY), which measures the greenback with a basket of six reference currencies, advanced 0.09% at the close to a level of 101.92 points.

Investors turn their attention to the Fed’s announcement. “In fact, it could even be said that the week has been one of transition, with quiet movements, awaiting the announcement from the Fed, the ECB and the Bank of England,” Ci explained. Bank on a note.

During the week, compared to a record of 18.8764 units on Friday, the peso accumulated a recovery of 11 cents, equivalent to 0.58 percent. Its operating range was located between the levels of 18.9142 pesos and 18.7163 pesos per dollar.

“The peso ended the week with strength, touching its weekly minimum, rejecting its support of 18.70 units after knowing economic data in the United States,” said Juan Carlos Cruz Tapia, a professor at the Banking and Commercial School.

jose.rivera@eleconomista.mx