The Mexican peso operates with profit against American dollar this Wednesday. The local currency appreciates after two consecutive falls, in a market awaiting the announcement of monetary policy from the Federal Reserve.

The exchange rate stands at 21.2390 units against a close of 21.2650 units yesterday, with the data of Bank of Mexico (Banxico). The move means a marginal advance for the peso of just 2.60 cents, or 0.12 percent.

The cross operates in a range between a maximum of 21.2570 units and a minimum of 21.1621 units. The Dollar Index (DXY), which measures the strength of the US currency against a basket of six currencies, is up 0.02% at 96.60 units.

“In the monetary policy announcement, the update of the economic growth and inflation projections, as well as the trajectory for rate increases, will be relevant,” said Gabriela Siller, director of analysis at Banco Base.

Operators’ attention is also on the advancement of the Omicron variant of Covid-19. The World Health Organization (WHO) reported that vaccines are less effective against infection and transmission.

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Reference-www.eleconomista.com.mx

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