The Mexican peso saw gains against the US dollar after the Federal Reserve maintained its forecast of three interest rate cuts in 2024. The currency appreciated by 0.86 percent, reaching 16.67 units per dollar, according to data from the Bank of Mexico. Throughout the trading session, the exchange rate fluctuated between 16.67 and 16.85 units.
Meanwhile, the US dollar weakened, with the dollar index dropping by 0.20 percent to 103.39 points. The Bloomberg dollar index also showed a decrease of 0.36 percent. At bank windows, the dollar was quoted at 17.14 pesos per greenback, according to Citibanamex.
In the money market, the yield of the 10-year Mbono in Mexico was at 9.63 percent, while in the US, the yield of the 10-year bond stood at 4.29 percent. Other currencies that saw gains alongside the Mexican peso included the Brazilian real, South African rand, Czech crown, Hungarian forint, Polish zloty, Romanian lei, and Bulgarian lev.