Peso advances marginally pending monetary policy announcements

The Mexican peso trades with a slight gain against the American dollar this Monday. The local currency appreciates in a market that awaits monetary policy decisions from central banks, such as the Bank of Mexico (Banxico).

The exchange rate stands at 20.8884 units against a record of 20.9172 units on Friday, with the data from Banxico. This means a gain of 2.88 cents for the peso, which is equivalent to a variation of 0.14 percent.

The cross operates in a range between a maximum of 20.9555 units and a minimum of 20.8430 units. The Dollar Index (DXY), which compares the greenback with a basket made up of six reference currencies, gains 0.16% at 96.25 points.

The most important central banks such as the Federal Reserve (Fed) and the European Central Bank (ECB) are preparing to announce their latest monetary policy decisions in 2021, at a time of high inflationary pressure.

Traders are also keeping an eye out for news related to the Omicron variant of Covid-19, which could be more contagious than the Delta variant, and its possible consequences on the global economic recovery.

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