Clara Zepeda
Newspaper La Jornada
Monday, August 29, 2022, p. 16
Faced with the anticipation of Jerome Powell, president of the United States Federal Reserve, of a third consecutive increase in the reference rate of 0.75 percent in September, net speculative positions were again loaded against the Mexican peso and touched the lowest level high from the end of 2021.
In the futures market on the Chicago Mercantile Exchange (CME), positions fell last Friday to their worst level since December 10, 2021 and accumulated 11 weeks in negative territory, showing a clear pattern that the market expects a trend depreciation against the dollar.
The net speculative positions of the peso-dollar in the CME, the most important derivatives exchange in the world, reached a level of 31,300 contracts against the peso, betting on a greater depreciation, reaching its worst level since December 2021, when they registered 64 thousand contracts.
The president of the US central bank stressed that the objective is to reduce inflation and that they cannot stop it because one month the data has been better than expected.
