Mexican peso loses ground against the dollar ahead of monetary policy meeting

Mexican Peso Falls Against the US Dollar, Investors Cautious Ahead of Fed Meeting

As another Federal Reserve monetary policy meeting approaches, the Mexican peso is facing pressure and losing ground against the US dollar, leading investors to operate cautiously. According to data from Bloomberg, the national currency depreciated by 0.08%, bringing the exchange rate to 17.29 units.

How Much is the Dollar Selling For in Banks?

At the bank window, the dollar is being quoted at 17.74 pesos per greenback, as reported by Citibanamex. Meanwhile, the dollar index (dxy), which measures the US currency’s strength against a basket of six developed countries, rose by 0.12% to 103.68 units.

Bloomberg Dollar Index (bbdxy) Update

The Bloomberg Dollar Index (bbdxy) advanced by 0.09% and remains at 235.35 points.

Which Currencies are Appreciating Against the Dollar?

The South African rand has experienced the highest increase against the US dollar at 1.24%, followed by the Swedish crown with 0.31%, the Australian dollar with 0.28%, the South Korean won with 0.27%, the Japanese yen with 0.16%, the Danish krone with 0.14%, and the euro with 0.14%.

Money Market Update

In the money market, the 10-year Mbono yield in Mexico is currently at a rate of 9.18%, while in the United States, the yield of the 10-year bond has reached a level of 3.77%. Grupo Financiero Ve por Más specialists highlighted that they expect the Mbonos to remain around closing levels, prioritizing liquidity before the Fed and ECB monetary policy meetings scheduled for this week.