Value of the dollar to Mexican peso
The domestic currency MXN= was trading at 17.99 pesos per dollar with a depreciation of 0.10% compared to the closing price on Friday registered by Banxico, when it reached 17.9330 units, its best level since September 2017.
“Investors operate cautiously awaiting important references in the week,” local firm CI Banco said in an analysis note. “His words from him (from Powell) can move the market, especially if he gives any clue as to what the central bank intends to do at its March 21-22 meeting.”
Similarly, investors await a report on the US employment situation for February at the end of the week that could influence the next rate move by the Fed, while inflation figures for last month will be released in Mexico.
For now, the currency was expected to oscillate on Monday in a range of 17.95 to 18.08 per dollar, Banco Base analysts said.
Information from Reuters