The peso spun his third session with losses to a generalized weakening of the dollar that mitigated the impact of concerns on the tariff plans of US President Donald Trump.
The president said Monday that his promise to impose rates on the products of Canada and Mexico moved on despite the efforts of the nations to reinforce border security and stop the traffic of fentanyl to the United States before March 4.
The dollar was 20,4568 pesos, a depreciation of 0.14% for the national currency and the third a thread, according to Banxico closing data.
“The appreciation of the peso happened alongside the weakening of the US dollar of 0.19%, according to the weighted index,” the Base Financial Group said in a report.
The weight was affected in a context of growing commercial uncertainty, since President Claudia Sheinbaum mentioned that her government continues to dialogue with the EU in the issue of security and commerce, but it still does not reach an agreement with Trump to avoid the scheduled tariffs for On March 4, according to Monex.
“Towards the Overnight, we would expect the weight to oscillate in a range between $ 20.36 and $ 20.58, considering the weakening of the weight and waiting for a light economic agenda in Mexico and the US,” added the financial group in a report.
The lack of course was attributed by analysts to the caution of the participants, but also to bets that tariff threats are only a negotiation instrument of the US president.
The weight is one of the most exposed global currencies to Trump’s commercial attacks due to the high dependence of the Latin American nation of its exports to its northern neighbor.
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“As long as clear signs of an agreement with its administration, it discards the imposition of tariffs in March, it is likely that exchange volatility will increase in the short term waiting for the outcome of the subject,” said the Cibanco firm, in a note of analysis.
“You cannot rule out levels of exchange rate close to 20.70 in days prior to the expiration of the term, especially if strong signs of what Trump would end up being presented,” he added.
In the morning, President Claudia Sheinbaum reiterated that she hopes to reach an agreement with her American counterpart before the weekend, prior to the deadline.
The referential shareholding index S&P/BMV IPC fell 1.20% to 53,062.37 points, according to preliminary closing data, in a market also attentive to the season of corporate results of the fourth quarter of 2024.
The titles of the Alsea restaurant administrator were among the most punished of the day, with a preliminary setback of 4.40% to 47.13 pesos, in the prelude to the publication of its quarterly reports planned and after the closing of the businesses.
In the debt market, the primary yields of the Treasury Certificates (CETES) descended at the weekly auction of government values, with the exception of the 28 -day referential period that was placed at 9.44%, seven base points above its previous auction.
With Reuters information
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