The peso advanced this Friday, notching its best weekly performance since September 2025, amid diminishing prospects that the Federal Reserve would cut short-term interest rates.
In the morning the US central bank reported that manufacturing activity increased unexpectedly in December, thanks to an increase in the production of primary metals that offset a decline in motor vehicle assembly plants.
The currency was trading at 17.6100 per dollar, in the final stretch of business, with an appreciation of 0.19%, in its eighth consecutive day of gains. In the week it accumulates a return of 1.5%.
“Today, the exchange rate stabilizes with an upward bias despite the weakening of the dollar, due to a decrease in expectations about cuts to the target range of the Fed’s federal funds rate,” said Monex Grupo Financiero.
Lee: Peso gains 0.92%, advance not seen since August 2025
Comments from U.S. central bank officials stood out during the day, including Vice President of Supervision Michelle Bowman, who said the central bank should be ready to lower interest rates again amid labor market risks.
At the local level, Banxico’s deputy governor, Jonathan Heath, stated in an interview that the governing board could be inclined to keep the key interest rate unchanged in its next decision on February 5.
The benchmark S&P/BMV IPC stock index rose 0.74% to 67,141.11 points, very close to its historical highs, with an accumulated weekly return of 1.6%.
The titles of América Móvil led the increases of the day, with 2.79% more to 18.06 pesos, followed by those of the airport group OMA, which added 2.60% to 240.55 pesos.
In the secondary debt market, the 10-year bond yield rose 5 basis points to 9.06%, while the 20-year rate rose 2 basis points to 9.42%.
With information from Reuters
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