The Mexican peso he despised himself against him American dollar in Monday’s operations. The local currency lost ground in a market that awaits monetary policy announcements, the last ones in 2021, from large central banks.
The exchange rate ended operations at 20.9959 units against 20.9172 units on Friday, with official data from the Bank of Mexico (Banxico). This meant a loss of 7.87 cents or 0.38 percent for the weight.
The pair traded erratically in a range between a maximum of 21.0080 units and with a minimum of 20.8430 units. The Dollar Index (DXY), which measures the greenback against a basket of six benchmark currencies, was up 0.21% to 96.30 units.
The world’s leading central banks such as the Federal Reserve (Fed) and the European Central Bank (ECB) are preparing to make their last monetary policy decisions in 2021, at a key time of high inflation.
Due to the strong and persistent increases recently observed in consumer prices, analysts expect Banxico to raise the key rate this Thursday for the fifth time in a row by 25 basis points to 5.25 percent.
Operators also remain vigilant for news related to the new Covid-19 Omicron variant, which could be more contagious than Delta, and its possible consequences for the recovery of the global economy.
“The expansion of the Omicron variant has caused more companies to delay the return to offices and in the United Kingdom to accelerate the application of booster vaccines,” said Grupo Financiero Ve por Más in an analysis note.
Reference-www.eleconomista.com.mx