The price of dollar in Mexico trades in the early hours of Wednesday on the downside, after an inflation reading of USA raised expectations that the Federal Reserve it may have room to reduce the size of its expected interest rate hikes.
The exchange rate is listed at 18,233 pesos per dollar, according to data from the Bloomberg agency.
It should be mentioned that the Mexican coin It has shown a favorable trend against the dollar since December of last year. And it is that the US authorities implemented a series of monetary policy measures to avoid excessive inflation.
In this sense, since December 6, 2022, the price of the Mexican peso has improved against the dollar.
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Latin American currency and stock markets extended Monday’s gains the day before as investors bet on risky assets, as the dark clouds over the banking sector in USA.
According to the Reuters Agency, confidence improved after the US regional bank First Citizens BancShares acquired the assets of the collapsed Silicon Valley Bank on Monday.
“Risk aversion is likely to remain relatively contained, subject to further dissipation of fear in the US banking sector”said the financial group Ve por Más in an analysis report.
Source: Gestion
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