The Mexican peso continues to strengthen despite a stronger dollar

The Mexican peso rose in price on Thursday at the opening of trading extension of the rally weeks, despite the strength of the dollar, due to confidence in the assets of emerging economies, which supported the region’s currencies.

The national currency expanded its strengthening for the fourth straight session, boosted by hopes that the Federal Reserve’s monetary tightening cycle will end by the end of this year following the release of consumer inflation data. USA This week.

The peso traded at 17.12 units per dollar.with an increase of 0.14% compared to the base price Reuters on Wednesday.

“For the rest of the day, the exchange rate may fluctuate between 17.07 and 17.22 pesos per dollar,” Ci Banco analysts said in a note sent to clients.

The market continued to weigh the outlook for Fed interest rates a week before the central bank makes its rate decision. Meanwhile, the European Central Bank raised its benchmark interest rate on Thursday, although it suggested an end to the cycle of rising borrowing costs.

Mexican Stock Exchange rose on Thursday shortly after the open as increased risk appetite in the market led to gains in mining, financials and services stocks, among others.

He leading S&P/BMV indexwhich brings together the 35 most traded stocks on the market, rose 0.11% to 51,579.84 points shortly after the start of the session.

Reuters

Source: Aristegui Noticias

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