The peso and the stock market advanced on Monday animated by a better environment for risk assets after the White House exempt smartphones and computers from US tariffs.
Even so, uncertainty continued in global financial markets after President Donald Trump said that new taxes on semiconductors remained imminent, analysts agreed.
The peso quoted at 20,1068 per dollar almost at the end of the businesses, with a gain of just over 1% compared to the LSE Reference Price on Friday, one of the best performances between a global currency basket.
Lee: Wall Street closes up to investors while investors evaluate tariff exemptions
“Despite the appreciation of the weight, one cannot speak of a change in trend for the exchange rate. The volatility against Trump ads is expected to continue with respect to the tariff policy,” said the Banco Base firm, in an analysis note.
“For now, it is likely that the cotice peso in a channel between 20.00 and 20.20 pesos per dollar,” he added.
During the day they highlighted comments from the governor of the Fed, Christopher Waller, who acknowledged that Trump’s tariff policies represent a hard blow to the US economy.
The referential shareholding index S&P/BMV IPC rose 1.73% to 52,391.35 points, after two days of losses.
The titles of the telecommunications firm America Mobile led the increases, with 4.32% more at 14.97 pesos, followed by those of the Minera Industrias Peñoles, which added 4.01% to 390.19 pesos.
Lee: Sheinbaum seeks to negotiate tariff reduction in automotive, steel and aluminum sectors
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 CETE referential rate to one month, which was placed at 9%, 20 base points above its previous auction.
With Reuters information
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