Mexico City.- The peso backed on Wednesday after yesterday had its best level against the dollar in almost a year.
The exchange rate was 18,6284 pesos per dollar, a depreciation of 0.18% compared to Tuesday’s session, according to Banxico closing data.
“The weight benefited from local inflation data and investor optimism, but commercial tensions affected their progress at the close of the session,” Monex’s financial group said in a analysis note.
“Towards the Overnight, we would expect the weight to oscillate in a range between $ 18.58 and $ 18.69, considering the trend of the exchange rate and waiting for the minutes of the last meeting of Banxico tomorrow,” he added.
Lee: Weight ignores new tariff threat: it has a better level in almost a year
Monex stated that the DXY dollar index closed with a gain of 0.04%, which was attributed to the publication of the minutes of the most recent monetary policy of the US Federal Reserve.
According to the minutes of the meeting of June 17-18, only “a couple” of officials said they felt that interest rates could go down as soon as this month; The majority, meanwhile, were concerned about the inflationary pressure expected of the tariffs of President Donald Trump.
“Fed minutes strengthened the dollar, because they say it could take some time that the rates rise prices,” said Gabriela Siller, head of base bank analysis. “For monetary policy this implies waiting longer before cutting the interest rate again,” he added.
Banxico is scheduled to publish the minute of its June meeting on Thursday, in which the Governing Board cut for the fourth consecutive occasion its key rate of interest at half a percentage point, as part of a readjustment cycle that began in 2024.
BMV yields 0.87%
The referential shareholding index S&P/BMV IPC retreated 0.87% to 56,687.54 points, on its third day of losses, dragged mainly by signatures of the financial sector.
The titles of the Regional Bank, known as Banregio, led the setback, with 8.01% less than 145.67 pesos, followed by those of Banco del Bajío, which subtracted 5.37% to 42.83 pesos.
In the secondary debt market, the 10 -year bonus yield descended four base points to 9.21%, while the 20 -year -old rate dropped one, to 9.91%.
With information from Francisco Rivera and Reuters
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