Mexican peso was seen in front of U.S. Dollar mid week shift. The local currency strengthened after being confirmed within minutes. federal Reserve (Fed) that the central bank considers it appropriate to slow rate hikes soon Rate of interest,
The move was linked to a fall in the dollar against its major peers, data showing a fifth consecutive contraction in US business activity and an unexpected rise in new claims for unemployment benefits.
exchange rate The day ended at a level of 19.3579 units as against yesterday’s record 19.4332 units, with official figures bank of mexico (Banksiko). This means a profit of 7.53 cents for the local currency, which is equivalent to 0.39 percent.
The pair operates in an open range with a maximum of 19.4513 units and a minimum of 19.3302 units. dollar index (DXY), which compares the greenback against the rest of the G7 currencies, fell as much as 1.05% (the worst session in nearly two weeks) to 106.10 units.
indication of rates
A large majority of the Fed’s Federal Open Market Committee members agreed at their meeting earlier this month that it “probably would be appropriate soon” to slow the pace of interest rate hikes in the fight against inflation.
The information revealed in the minutes of their meeting comes at a time when there is growing debate over the consequences of rapid monetary policy tightening. The current cycle of rate hikes in the United States has been the fastest in recent history.
Prior to publication of the minutes, it was known that the number of new applications for unemployment benefits hit a record 240,000 last week, well above the 225,000 expected by analysts. The data will support the moderation of the Fed’s hike.
Separately, US business activity contracted for a fifth straight month in November, with new orders falling to a two-and-a-half-year low as higher rates dampened demand.
Banksico will announce tomorrow the minutes of the meeting in which it raised the value of money by 10%, amid bets on the moderation of the rate of growth in the United States. The market will focus on separating its decisions from the Fed’s.