President Trump caused a generalized weakening of the dollar by resuming his tariff rhetoric, so that the weight was favored when registering his best level against the dollar since September 17.
The US president challenged to impose a 25% tariff on Apple for any iPhone sold, but not manufactured, in his nation, and also said he will recommend imposing a 50% tax on the European Union as of June 1.
The green ticket was at 19,2398 pesos, an appreciation of 0.37% for the national currency, according to Banxico closing data. In the weekly accumulated, the weight gained 1.21%
Even so, in the Chicago futures market, investors dedicated to making speculative bets decreased their positions in favor of a future appreciation of the currency for the second consecutive week.
Lee: Dollar falls after new Trump tariff harassment
The Base Financial Group indicated in a report that the appreciation of the peso was a consequence of the generalized weakening of the dollar, which fell 1.72% in the week, according to the weighted index.
He pointed out that it is the worst performance of the index since the second week of April, when 2.44% fell to the scaling of the commercial war between the United States and China.
He pointed out that with the weekly setback, the dollar index touched its worst level since December 29, 2023.
He explained that during the week, the weakness of the American currency was due to uncertainty about his future as a reserve currency before the recent qualification decline to the US by Moody´s, the nervousness regarding the approval of the Trump fiscal project and the resumption of the republican’s commercial threats.
The base economic analysis area added that in the particular case of the weight, the appreciation was also due to a lower risk aversion compared to Mexico.
LEE: Here we go again: Trump Resume Tariff Rhetoric and Wall Street Loss
He recalled that on Thursday, President Claudia Sheinbaum said she had a phone call with Trump, and although she did not give details, she sent the sign that cooperation continues between the two countries.
“It should be remembered that, during May, Trump has moderated his rhetoric with respect to Mexico, which helps to reduce the volatility of the exchange rate,” he said.
He pointed out that so far this month, the volatility of the exchange rate has been located at 7.54%, falling from 16.82% in April and being the lowest since May 2024, prior to the elections in Mexico.
Bag Avanza 0.89%
The referential shareholding index S&P/BMV IPC rose 0.89% to 58,410.37 points, one of its best closing levels in its history. In the morning more than 1%came to fall briefly.
The titles of the insurer Quálitas led the rebound, with 3.01% more than 212.90 pesos, recovering part of the land assigned in the previous day when they suffered a fall of almost 6%.
The papers of the port of Liverpool were the seconds with the best performance by moving 2.94% to 97.25 pesos. The company reported on Tuesday that, together with members of the Nordstrom family, it consumed the purchase of the Nordstrom stores.
In the week, the bag added a return of 0.73%.
In the secondary debt market, the 10 -year bonus yield rose six base points to 9.47%, while the 20 -year rate amounted seven, to 10.07%.
With information from Francisco Rivera and Reuters
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