[ad_1]
The Mexican peso depreciated in front of American dollar in the first day of 2022. The local currency lost ground against a strengthened dollar due to higher bets on the interest rates of the Federal Reserve (Fed) this year.
The exchange rate ended trading at 20,5308 units against a close of 20,5075 units on Friday, with data from the Bank of Mexico (Banxico). That means a weight loss of 2.33 cents or 0.11 percent.
The pair moved in an open range between a high of 20.6532 units and a low of 20.4110 units. At the close, the Dollar Index (DXY), which measures the greenback with a basket of six coins, gained 0.25% at 96.21 points.
The dollar strengthens against its main peers, following the performance of the yield of the Treasury bonds of the United States, due to the bets of a period of increases in the rates of the Fed in response to inflation.
Some analysts felt that the peso’s fall was limited by low trading volume, which still has not returned to normal after the year-end period, and by betting on fewer deaths from Omicron.
“Although little by little normality is resumed in terms of activity, the volume of operations continues to be low … Operators are still attentive to the advance of the Omicron variant,” CI Banco explained in a report.
jose.rivera@eleconomista.mx
[ad_2]