The money of Mexico depreciated on Wednesday due to a global strengthening of the dollarin a market awaiting progress in the negotiations to raise the debt limit US.
The peso was trading at 17.6790 units, with a loss of 1.09% against Tuesday’s Reuters reference price, standing out as one of the global currencies that lost the most ground against the dollar.
“The Mexican currency was affected by a reduction in risk appetite, given the growing nervousness of the markets due to the little progress in the negotiations to raise the debt ceiling of the United States”, said Monex Grupo Financiero, in an analysis note.
At the local level, the eyes of investors were on the monetary policy decision of Banco de México that will be announced on Thursday, with the expectation that it will announce the end of the monetary tightening cycle that began in June 2021.
For now, it was expected that during Wednesday the currency would oscillate in a range of 17.50 to 17.70 per dollar, according to analysts from the firm Banco Base.
Source: Reuters
Source: Gestion
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