Expectations that the Federal Reserve would be more restrictive if necessary were diluted in the last session of the week, returning risk appetite within the financial markets and leaving the Mexican peso as the most appreciated currency against the dollar this December 10. November.
According to data from the Bank of Mexico, the national currency appreciated 0.94 percent, or 16.73 cents, bringing the exchange rate to 17.64 units.
However, in the weekly balance, the Mexican peso had a decline of 1.06 percent or 18.43 cents.
Gabriela Siller, director of economic analysis at Banco Base, highlighted that from a technical approach, the exchange rate broke the 200-day moving average of 17.6804 pesos per dollar, which indicates that the upward trend remains sustained and is possible to continue for longer.
The above is due to the expectation that Banxico could begin interest rate cuts earlier than expected, and to the possibility that the Federal Reserve could raise its interest rate once again.
Selling price of the dollar in banks today, November 10
The price of the greenback at bank windows rose again above 18 units at 18.28 pesos each, as indicated by the data reported by Citibanamex.
The dollar index (DXY), which measures the strength of the US currency against a basket made up of six currencies of emerging countries, fell 0.03 percent, to 105.87 units, while the Bloomberg dollar index (BBDXY) was located at 1,266.36 points after losing 0.13 percent.
In the money market, the yield on the 10-year bond for the United States is 4.58 percent, while the 10-year bond in Mexico remains at a level of 10.04 percent.
Some currencies that ended in loss territory were the Thai baht with 0.86 percent; the South Korean won with 0.54 percent; the South African rand with 0.53 percent, and the Russian ruble with 0.52 percent.