During the day on Wednesday the weight advanced at levels not seen since October, prior to the announcement of the monetary policy of Banco de México, while the BMV was strengthened for the third consecutive day.
The markets expect that the monetary entity decreases the cost of credits at a percentage half point, in what would be its third consecutive cut of that magnitude to the key rate of interest, which is currently located at a level of 9%.
The currency was quoted in 19,3838 dollars almost at the end of the businesses, with a gain of 0.12%, although earlier it came to strengthen up to 19,3049 units, its best level in seven months.
“On the technical plane, market analysts point out that the Mexican currency broke a key support, which has triggered a wave of technical purchases,” said Antonio Di Giacomo, financial market analyst for Latin America of the firm XS.
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“The exchange rate now aims to test the 19.20 pesos per dollar area, a level considered psychological for its relevance in the technical analysis,” he added.
The referential shareholding index S&P/BMV IPC rose 0.50% to 57,644.94 points, with an accumulated return close to 2% in the last three sessions.
The titles of the telecommunications firm Televisa headed the increases of the day, with 5.95% more to 7.66 pesos, followed by those of the once alpha conglomerate, now focused on their food business, which added 3.50% to 15.07 pesos.
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In the secondary debt market, the 10 -year bonus yield rose 14 base points to 9.53%, while the 20 -year rate descended, to 9.94%.
With Reuters information
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