The peso closes at 17.64 per spot dollar; so far in January it has gained 2%

The peso reversed the losses at the start of the day this Thursday, registering a daily appreciation of 0.92 percent, equivalent to 16.37 cents against the US currency, and closing at 17.6499 units per dollar spotdue to greater investor demand for the Mexican currency.

The DXY index, which measures the behavior of the dollar against a basket of six international currencies, showed a gain of 0.25 percent, to 99.16 units.

The Mexican currency, which achieved five consecutive sessions of gains against the dollar, hovered around levels not seen since the first 15 days of July 2024; while in the first 10 sessions of the year it accumulates a gain of 2 percent.

According to data from the Bank of Mexico, the exchange rate operated between a maximum of 17.7860 units and a minimum of 17.6200.

“When the T-MEC is questioned, the market tends to interpret that the macroeconomic risk shifts towards the United States, rather than towards Mexico. As a consequence, the predominant reaction is not an outflow of capital from the country, but rather a reduction in exposure to the dollar and greater demand for the peso.

In practical terms, this translates into sales of dollars and purchases of pesos, reinforcing the downward pressure on the exchange rate,” explained Paula Chaves, financial markets analyst at HF ​​Markets.

For its part, on the Mexican Stock Exchange (BMV), after its maximum entry on Wednesday, investors took their profits, letting go of Wall Street, which benefited from the profits of financial and technology companies.