The superpeso is once again trading below 18 units

The Mexican currency is once again trading below 18 pesos on international markets, trading at around 17.98 pesos per dollar, which means an appreciation of 0.62% or 11 cents compared to last Friday, according to information from Bloomberg.

With this, the peso is the most appreciated currency this morning in the basket of main crosses against the dollar, reaching its best intraday level since June 25.

The appreciation of the peso is due to speculation that the Federal Reserve could make two interest rate cuts, of 25 basis points eachbefore the end of the year, after weak economic indicators were published in the United States last week.

In the coming days, the market will be attentive to comments from Federal Reserve officials, highlighting the appearance of Fed Chairman Jerome Powell before the Senate Banking Committee tomorrow Tuesday at 8:00 a.m. and before the House Financial Services Committee on Wednesday at 8:00 a.m., commented Gabriela Siller, director of economic analysis at the Base financial group.

The retail dollar is at 18.43 pesos for sale at bank windows0.49% or 9 cents below last Friday’s close, according to data published by CitiBanamex.