Peso falls on global dollar strength awaiting Fed announcement

The Mexican peso depreciates against the American dollar this Monday morning. The local currency loses ground due to a strengthening of the greenback, at the beginning of a week in which the monetary policy announcement of the Federal Reserve.

The exchange rate spots It is located at the level of 18.7883 units per dollar against an official closing of 18.7664 units on Friday, with the data of the Bank of Mexico (Banxico). For the local currency, it means a loss of 2.19 cents, equivalent to 0.12 percent.

The crossing operates in an open range between a maximum of 18.8109 units and a minimum of 18.7520 units. The Dollar Index (DXY), which measures the greenback against a basket of six strong benchmark currencies, rose a marginal 0.03% to 101.96 units.

“In the last few weeks, investors have discounted a slower pace in rate hikes given the decline in inflation and stagnant growth,” said CI Banco. He added that caution would prevail until the unknowns are cleared up on Wednesday.

In the local aspect, this week the publication on Tuesday of the figures of the Gross Domestic Product (GDP) corresponding to the fourth quarter of 2022, which would offer clues about the state of health of the second largest economy in Latin America.

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