The peso maintained its winning streak for the sixth consecutive session and was among the five most appreciated currencies against the dollar.

The national currency registered a daily appreciation of 0.42 percent, equivalent to 7.51 cents, to close at 17.9143 units per dollar spotits best level since June 6, when it closed the day at 17.8881 units in the interbank market.

The Mexican currency achieved its sixth consecutive gain against its U.S. counterpart, accumulating an appreciation of 2.45 percent, equivalent to 45 cents.

According to data from the Bank of Mexico, the exchange rate ranged from a maximum of 17.9750 units to a minimum of 17.9020.

Meanwhile, the dollar index, the DXY, showed that the greenback appreciated 0.13 percent to 104.809 units against a basket of six international currencies, including the euro, the pound, the yen and the Canadian dollar.

Fed Chairman Jerome Powell testified before the U.S. Senate Banking Committee on Tuesday, saying that if the labor market unexpectedly deteriorates, the central bank would cut interest rates; until that happens, the central bank needs to see inflation move away from its 3 percent plateau to be more confident and toward its 2 percent target.

The US central banker said it would not be necessary to raise interest rates again, but he did not make clear when the first cut in the current 5.5 percent rate would be. What was clear to financial markets is that it could be in 2024.

On Wall Street, the main stock indices closed in mixed territory, on a day in which the Fed conveyed a message of optimism about a drop in interest rates, after modest progress relating to inflation.

The Dow Jones fell 0.13 percent to 39,291.97 points; the S&P 500 gained 0.07 percent to 5,576.98 points and the Nasdaq gained 0.14 percent to 18,430.56 points.

By Editor

One thought on “Peso maintains positive streak; closes at 17.91”
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