The Mexican peso strengthened early in the session on Wednesday as the dollar fell for a second day in a row and after China said it would launch stimulus measures to speed up its fragile economic recovery.
In a long-awaited announcement, China’s central bank said it would reduce the amount of cash held by banks. banks They are expected to maintain reserves as of Feb. 5, the first cut of this type this year, which has boosted markets in countries that benefit from commodity exports to the Asian country.
The national currency was quoted at 17.16 units per dollar.with an increase of 0.75% compared to the base price Reuters on Tuesday.
“Assessment occurs along with dollar weakening by 0.37% according to the weighted index, given the increase in risk appetite in global financial markets,” Banco Base analyst Gabriela Siller said in a note sent to clients.
This morning they also published inflation data until the first half of January, which turned out to be higher than expected. The Global Indicator of Economic Activity (IGAE) data for November was also released, with the economy contracting 0.45% month-on-month.
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
