Mexico City.- The Mexican peso has depreciated for the second time in a row and the dollar is trading above the 19-unit barrier in the international currency market (Forex).
The exchange rate rose to 19.0179 pesos at around 11:00 a.m. (Central Mexico time), 34.36 cents above its closing price on Monday.
The market is processing data on retail sales in Mexico, which fell in the first half of the year for the first time in four years, and is also awaiting the participation of Federal Reserve (Fed) Chairman Jerome Powell in Jackson Hole on Wednesday and other figures and signals from the international economy. In the retail market, the US currency rose 25 cents at Citibanamex, trading at 19.43 pesos.
At the local level, inflation figures for the first half of August and the Gross Domestic Product (GDP) for the second quarter will be released on Thursday, as well as the minutes of the most recent meeting of the Bank of Mexico (Banxico), when it applied a cut to its reference rate.
“Everything seems to indicate that there will be a slowdown in consumption and this is reflected in the fact that those responsible for monetary policy at the Bank of Mexico will most likely take a slightly more dovish stance,” said Eduardo Ramos, senior market analyst at digital broker VT Markets Latam. With information from Reuters
#Dollar #exceeds #international #market
