The peso and the stock exchange retreated due to renewed concerns of investors, who expect news about the possible application of the postponed tariffs promised by US President Donald Trump.
At the beginning of February, the president postponed for a month the implementation of 25% tariffs on imports from Mexico and Canada, who promised to strengthen the safety of their borders to curb drug trafficking and the irregular passage of migrants.
The currency, one of the most exposed global currencies to Trump’s commercial threats due to Mexico’s high dependence on its exports to the United States, quoted at 20,4779 per dollar, with a depreciation of 0.33%, almost at the end of businesses .
“This is the last full week before the deadline expires on March 4, so the news related to the possible entry into force of these tariffs could raise the volatility of the exchange rate,” said Banco Base in a note of analysis.
Asked on the issue, Trump said on Monday that the United States “is on time” and moving “very quickly”, and reiterated his opinion that the North American country has been mistreated by its neighbors and allies.
In Mexico, in the morning it was announced that general inflation rebounded in the first half of February, although it remained within the official objective range, retracting intact bets that the monetary authority would significantly reduce its key rate of interest in interest in March.
Banco de México deepened this month the magnitude of its cuts, by lowering the funding rate at a half point, after five reductions of 25 base points from its historical maximum of 11.25% last year, and said that forward could consider similar adjustments.
Lee: Tariffs to Mexico and Canada ‘will continue’: Trump
The inflation report adds to confirmation on Friday that the economy of Mexico contracted in the fourth quarter of 2024, while throughout the year it recorded its worst performance from the pandemic.
The referential shareholding index S&P/BMV IPC yielded 0.16% to 53,652.30 points, according to preliminary closing data, although during the day it came to rise 0.45%, at the start of the last week of the local season of corporate results of the fourth quarter .
Highlighted in the session a preliminary loss of 12.27% to 14.02 pesos of the titles the Volaris airline, its worst fall since July 2022, after publishing a weak quarterly report.
In the secondary debt market, the 10 -year bonus yield dropped three base points to 9.75%, while the 20 -year rate decreased four, to 10.24%.
With Reuters information
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