The peso had four sessions with depreciations this Tuesday and remained at the level of 20 units per dollar at the close, according to data from Banxico.
The dollar stood at 20.0845 pesos per dollar, a loss of 0.26% for the national currency compared to the previous close.
Upside risks for the exchange rate continue to grow due to the proximity of the presidential elections in the United States, and the growing bets that Republican Donald Trump can win, according to the financial group Base.
“Although the exchange rate shows a lateral behavior, it is consolidating above the key level of 20 pesos per dollar,” the lender indicated at the beginning of the session.
He detailed in an analysis that bets in favor of Trump reached a probability of 62.7% this Tuesday, the highest since July 16, according to Real Clear Politics.
Lee: Peso retreats and returns to the level of 20 units per dollar
“The market’s nervousness about the peso is due to Trump’s protectionist stance, which has threatened to impose tariffs on Mexican imports, renegotiate the USMCA and classify organized crime in Mexico as terrorist organizations, which could lead to a sharp deterioration in the peso. the relationship between both countries,” he explained.
He added that the market anticipates a greater risk of volatility a month after the US elections.
In addition, he considered that for the second half of November the 2025 Economic Package will be relevant in Mexico, which includes the spending structure, the income projection and the expected fiscal deficit, which could open the door for rating agencies to adjust the country’s credit rating.
The financial group Monex noted in a report that the peso showed little volatility in the session, awaiting key data on the economy in Mexico and the United States on Wednesday.
“Overnight, we would expect the peso to oscillate in a range between $19.95 and $20.14, considering the relevance of tomorrow’s economic agenda and today’s narrow range,” he added.
With information from Francisco Rivera
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