The Mexican peso appreciated slightly against the dollar on Friday, gaining ground as the greenback retreated. However, the peso ended the week negati
The Mexican peso appreciated slightly against the dollar on Friday, gaining ground as the greenback retreated. However, the peso ended the week negatively due to concerns over the Federal Reserve’s interest rate policies.
The exchange rate closed the day at 16.6942 pesos per dollar. With Thursday’s official close at 16.7330 pesos, according to data from the Bank of Mexico (Banxico), this represented a gain of 3.88 centavos, or 0.23 percent.
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Throughout the day, the dollar traded within a range, hitting a high of 16.7625 pesos and a low of 16.6740 pesos. The Dollar Index (DXY) from the Intercontinental Exchange, which measures the greenback against six major currencies, fell 0.37% to 104.72 points.
This week, the Federal Reserve’s meeting minutes revealed that some central bank officials have doubts about the disinflation process. Several members maintained a stance favoring rate hikes if inflationary risks increase.
Additionally, it was reported that orders for durable or capital goods in the United States rose more than expected in April, suggesting the U.S. economy is far from slowing down and that price pressures may persist.
Despite the peso recovering ground on Friday after three consecutive days of losses, it was not enough to offset its weekly decline. With last Friday’s close at 16.6044 pesos, the peso lost 8.98 centavos or 0.54 percent over the week.
Uncertainty remains regarding the Federal Reserve’s future decisions on interest rates. The two major questions are when rates will decrease and at what pace.
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