The Mexican peso closed the day of Monday, November 28 with an appreciation of 0.14% or 2.7 cents, trading around 19.30 units per dollarthis level is lower than it was seen since February 26, 2020, and specialists consider that it can even reach 19.25 pesos per green ticket.
Gabriela Siller, director of economic analysis at Banco Base, indicated that, despite the stability of the peso, a strengthening of the US dollar was observed in the exchange market. The dollar weighted index closed with an advance of 0.63%, driven by two factors:
- Risk aversion rose in global financial markets, due to the advance of the coronavirus in China and the confinement measures that have unleashed a wave of protests in key cities of the country, which affects expectations for economic growth and demand for materials cousins.
- Restrictive tone comments from Federal Reserve officials. James Bullard, president of the St. Louis Fed, mentioned in a conference that the interest rate must rise “at least” to the low end of the range between 5% and 7%, to achieve a sufficiently restrictive monetary stance that allows a decrease in inflation.
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