The peso appreciated this Friday, amid a decline in the dollar in foreign markets, while investors positioned themselves for a cut in interest rates by the United States Federal Reserve (Fed).
The market was also awaiting the meeting between President Claudia Sheinbaum and her American counterpart Donald Trump.
The domestic peso was trading at 18.1946 per dollar, with a gain of 0.17% against the LSEG reference price on Thursday, after earlier trading around the 18.18 per dollar mark.
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“The appreciation of the Mexican peso occurs alongside a weakening of the US dollar, as the market continues to speculate that the Federal Reserve will cut the interest rate on Wednesday, December 10,” Banco Base said in a report.
“However, part of the appreciation of the peso is also due to optimism due to the meeting scheduled today between the president of Mexico, Claudia Sheinbaum, and the president of the United States, Donald Trump, within the framework of the draw for the 2026 World Cup,” he added.
According to Banco Base, news about previous conversations between the two were accompanied by positive comments from Trump and agreements to postpone the imposition of tariffs, with positive effects on the exchange rate of the peso against the dollar.
With information from Reuters
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