The Mexican peso operates in negative territory against the American dollar Tuesday morning. The local currency outlines its second consecutive loss, after a streak of eight days in which it recovered about 3.7 percent.
The exchange rate stands at 19.9874 units compared to the record of 19.9197 units of yesterday’s official closing of the Bank of Mexico (Banxico). This means that the peso loses 6.77 cents, equivalent to a variation of 0.34 percent.
The cross operates in a limited range between a maximum of 20.0350 units and a minimum of 19.8715 units. The Dollar Index (DXY), which measures the greenback against a basket of six benchmark currencies, advanced 0.44% to 104.39 units.
The dollar strengthens in the market and its movement makes the peso fall, as well as other currencies considered risky, while the market has its sights set on the annual forum of the European Central Bank Made in Portugal.
“The market is waiting for more information on the future of the monetary policy of the main central banks at a global level, especially due to the comments that may arise in the forum,” the local Banco Base explained in a note.