The Mexican peso was valued against the American dollar this Tuesday. The local currency advanced due to a weakening of the greenback in a market that awaits the minutes of the meetings of the Federal Reserve (Fed) and the Bank of Mexico (Banxico) this week.
The exchange rate The day ended at 19.4332 units with the data from Banxico against the record of 19.5380 units of the reference price of Reuters yesterday (in a session without official closure due to a holiday). This is a gain of 0.48 cents or 0.54 percent.
The cross traded volatile in an open range between a maximum of 19.5710 units and a minimum level of 19.4258 units. The Dollar Index (DXY), which measures the dollar with a basket of six strong reference currencies, fell 0.56% at the close to 107.23 points.
Investors hope that the minutes of the most recent Fed meeting, tomorrow, can give them clues about the next steps in the fight against inflation, and in the local aspect, operators are waiting for signs on the path of Banxico in relation to the fed.
“If the Banxico minutes indicate that the rate increases will follow the Fed, the price could be between 19.30 and 19.60 units. But, if Banxico seeks to maintain increases at 75 basis points, we could see 19.25 or even 19 pesos”, Actinver said in a note.
Earlier in the day the peso fell because Mexico’s retail sales fell 0.2% monthly in September, according to the National Institute of Statistics and Geography. At the interannual rate, the comparison showed a positive performance of 3.3 percent.
