The price of dollar in Mexico trades in the early hours of Thursday 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 18.8347 pesos per dollar, according to data from the Bloomberg agency.
The Organization for Economic Co-operation and Development (OECD) raised this Wednesday the growth forecast for the Mexican economy in 2023 to 2.6%, one tenth more than its previous forecast for the month of November.
The figure is slightly lower than the forecasts of the Mexican Secretary of Finance and Public Credit, Rogelio RamÃrez de la O, who has projected a growth of 3% at the end of the year.
In a new report published the day before, the OECD keeps the estimated growth for the economy unchanged at 2.1%. mexican economy in 2024.
dollar globally
Most of the Latin American currencies registered slight gains the previous day, driven by lower expectations of a new rate hike in USA and by a greater appetite of investors for the risk assets, which also gave strength to the stock markets, in the midst of a slight rebound in the dollar.
The dollar rose against the yen on Wednesday, with investors awaiting US inflation data for May and the interest rate decision from the Federal Reserve next week.
Markets expect the US central bank to hold rates steady while it assesses the impact of recent increases in the cost of credit, although federal funds futures traders are eyeing a further hike in July.
Source: Gestion
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