The price of dollar in Mexico trades higher in the early hours of Wednesday, 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 16,911 pesos per dollar, according to data from the Bloomberg agency.
After stating that the Mexican economy grew 3.6% in the first half of the year, the Bank of America Securities (BofA Securities) pointed out that the country is going through a good moment and that it improved its expectations towards the end of 2023 and 2024.
According to the financial institution, the behavior of the Economy of mexico was driven by the good results of USA throughout these six months, through trade between the two nations and remittances.
dollar globally
Most of the Latin American currency and stock markets closed higher on Tuesday, although the investors were cautious ahead of the central bank conference in jackson hole at the end of the week, from which new monetary policy signals could emerge.
Globally, the dollar rose against a basket of six major currencies on Tuesday, nearing the two-month highs reached last week, ahead of the symposium.
Source: Gestion
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