The Mexican peso closed with a slight appreciation on July 3, while the Mexican Stock Exchange posted modest gains in a session without Wall Street operations due to the US Independence Day holiday.
According to Bank of Mexico data, the exchange rate stood at 17.47 pesos per dollar, representing a gain of 0.01 percent or 0.22 cents from the previous close. For the week, the currency accumulated an advance of 0.16 percent or 2.76 cents.
Gabriela Siller, director of economic analysis at Banco Base, noted that “the appreciation of the peso occurs alongside the weakening of the dollar according to the weighted index, because speculation about future increases in the Federal Reserve’s interest rate has moderated”.
In the stock market, the S&P/BMV IPC of the Mexican Stock Exchange rose 0.05 percent to 67,101.51 units. The FTSE-BIVA advanced 0.01 percent to 1,347.19 points. Analysts at Grupo Financiero Ve por Más said US employment figures and the partial normalization in oil prices reduced bets on a Fed rate hike.
