Peso depreciates at the beginning of the week marked by risk aversion

The Mexican peso back slightly this Monday morning. The local currency falls against the dollar online with others emerging currenciesin a market that remains attentive to information related to the future of monetary policy and strategies against inflation.

The exchange rate stands at 19.9710 units, compared to the official closing of 19.9587 units on Friday, with the data from Bank of Mexico (Banxico). This means a loss of 1.32 cents for the peso, which is equivalent to a variation of 0.07 percent.

The cross operates between a maximum of 20.0271 units and a minimum of 19.9446 units. The Dollar Index (DXY), which measures the greenback against a basket of six currencies, rose 0.30% to 109.86 points. At its peak of 110.27 points, it hit a high since June 2022.

The market is nervous about the possibility that the main central banks continue to raise their rates. On the monetary policy agenda, it stands out that the European Central Bank could raise its interest rates by 75 basis points this Thursday.

On the local side, investors are reacting to the most recent report on consumer confidence, which showed a reduction, as they prepare to receive the key report on inflation on Thursday, which will be a reference for the next Banxico announcement.

jose.rivera@eleconomista.mx