The Mexican peso lost this Friday morning for the fifth consecutive session, shaping up to register its steepest weekly decline since the end of November last year, after the Federal Reserve of the United States outlined a more restrictive monetary policy.
The Aztec currency was trading at 20.7621 units per dollar, with a loss of 0.06% compared to the 20.7490 pesos per greenback of the Reuters reference price on Thursday.
Earlier, the Mexican peso it depreciated to 20.8549 units, its weakest level since last December 22.
The dollar, meanwhile, consolidated its gains and headed for its biggest weekly gain in seven months, as bets on higher interest rates in the United States boosted the currency’s gains against its rivals.
The Fed said on Wednesday that it will likely raise interest rates in March and reaffirmed its plans to end its purchases of pandemic-era bonds that month, before starting a significant reduction in its asset holdings.
“Volatility has been the tone of the week,” he said. CI Banco in a report. “After the initial scare due to the tension in Ukraine, came the speculation about the Fed and the result of the meeting, which was known on Wednesday,” he added.
