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The peso is down to nearly 20 units against the dollar after six days of gains

The peso is down to nearly 20 units against the dollar after six days of gains

The Mexican peso Consumed in front of American dollar This Tuesday, after a series of six straight highs. The exchange rate It closed at 19,9830 per dollar, compared to a close of 19,8380 units yesterday, with official data from The Bank of Mexico (Banxico).

A move in parity means for the local currency a drop of 14.50 cents, or a variance of 0.73 percent. The pair moved in an open range with a maximum of 19.9955 units and a minimum of 19.7850 units, its best level since January 22nd, when it reached 19.7146 pesos per dollar.

The Mexican currency moved in line with other emerging currencies such as the Brazilian Real, which achieved returns amid stabilizing the dollar six days later with losses against the most important currency pairs. The Dollar Index (DXY), which measures it against six benchmarks, is moving 0.19% at the close at 91.25 units.

Today, some specialist firms said in their reports that the dollar found stability with the help of Treasury bonds that remained below their March peak. Analysts at Ci Banco said: “He is well aware of the new rise in the rate of 10-year bonds.”

On the technical side, parity recovered due to price rejection near the 19.8000 unit level, with its two-day lows just below the area. ActivTrades said: “In the dollar, there is hesitation against the Latin American currencies. Against the peso, the 20 unit line will be the new resistance.”

In six days of gains, since closing 20,2030 units on April 9, the peso has managed to recover 36.5 cents, which equates to a cumulative variance of 1.81 percent. With six straight setbacks (something we haven’t seen since June 2020), the dollar reached its lowest level in six weeks.

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