The Mexican peso lost ground this Friday, dragged down by a weak US retail sales report that overshadowed a solid start to the quarterly corporate earnings season in that country, with reports from JPMorgan, Citigroup and Wells Fargo.
Markets also reacted negatively to comments by Fed Governor Christopher Waller, who said that despite a year of aggressive rate hikes, policymakers have “not made much progress” in bringing inflation back to its 2% target. and they need to raise interest rates even higher.
The weight traded at 18.0222 per dollar near the end of business, with a depreciation of 0.13% against 17.9980 units, after three consecutive sessions of gains.
“The release of the data confirms that there is still a long way to go to curb inflation in the United States and other countries, so the Fed could have another rate hike for its next meeting,” he said. Masari Brokerage House.
“Volatility is expected to be lower throughout the day and to remain within a range of approximately ten cents,” the firm added.
The peso ended the week with a slight cumulative return of 0.50 percent.