The Mexican peso It appreciated against the US dollar this Wednesday, so it spun four days with advances. The local currency gained ground in anticipation of the Bank of Mexico’s monetary policy announcement (Banxico) and after the declarations of the president of the Federal Reserve of the United States, Jerome Powellwhich do not rule out more aggressive hikes in interest rates.
The exchange rate The day of this June 22 ended at 20,0168 units compared to a record of 20,1463 units on Tuesday. This movement meant an appreciation of 12.95 cents for the local currency, equivalent to 0.64% percent.
The Dollar Index (DXY), which measures the greenback with a basket of six reference currencies, lost -0.24% to 104.19 units.
The weight gains are due to the optimism surrounding the monetary policy announcement of the Banxico scheduled for Thursday, where an increase of 75 base points in the interest rate is expected, Banco Base said.
Likewise, the market will be attentive to the statement from the Mexican central bank, because if it shows a more restrictive tone, a greater appreciation of the peso could be observed, he added.
In addition, the nervousness continues after the appearance before the US Senate of the president of the fed where he mentioned that needs a more restrictive monetary policy.
Investors fear that central banks will sacrifice growth in favor of controlling prices, according to Ci Banco.
The president of the fed warned that there may be more “surprises” around the next inflation data, but said that the authorities of the Federal Reserve they are not trying to cause a recession in their attempt to control it.
(With information from Reuters.)
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