The weight depreciated this Friday morning in the face of a global strengthening of the dollar due to growing assumptions that the Federal Reserve The US (Fed) will continue to raise interest rates despite recession risks.
The Mexican currency was trading at 20.0979 units per dollar, down 0.35% from Thursday’s Reuters reference price. During the week it accumulated a slight weakening of 0.13 percent.
“In a session without major economic benchmarks, concern about potential aggressive interest rate hikes by the Fed and their impact on the economy dominate investor sentiment,” CI Bank said in a report.
Analysts also pointed out that the international markets continued to assimilate the news that the British Prime Minister, Liz Trussannounced his resignation after only six weeks in office.
Still, the decline in weight was less marked than other emerging currencies in the expectation that the central bank will maintain its restrictive monetary policy, in line with the steps of the Fed.
For the rest of the day, the Mexican currency is expected to oscillate in a range of 20.01 to 20.22 pesos per dollar, according to estimates by the local Banco Base.
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