(Bloomberg) — The Mexican peso rebounded against the dollar, recovering from three-day slump driven by a surprise announcement for the future leadership of the Mexican central bank.
The peso climbed as much as 1.8% on the day to 21.2839 on Tuesday, briefly strengthening back to where it was before the announcement that Victoria Rodriguez would be nominated to head Banco de Mexico.
The nomination has stirred a great deal of uncertainty in Mexican markets as traders assess Rodriguez’s qualifications. The candidate has little experience with central banking and has close ties to President Andres Manuel Lopez Obrador, prompting fears that the institution won’t be as steadfastly independent as it has been in the past.
That focus on a new central bank chief ebbed Tuesday, with the peso the best emerging currency after the Chilean peso, benefiting from a broadly weaker dollar. The greenback took center stage as traders assessed prospects for the Federal Reserve tightening monetary policy amid concerns over a new omicron variant. The U.S. currency pared declines as traders boosted bets on the pace of tightening after comments by Chair Jerome Powell on the prospect for faster tapering.
Source: El Financiero
more recommended stories
Peninsular Electric Expo is inaugurated by Governor Vila Dosal at Merida’s Siglo XXI
During the first edition of the.
President Joe Biden condemns Supreme Court abortion ruling
WASHINGTON DC — In sharp and.
Grupo Xcaret’s Xibalbá Park in Valladolid is still in stand by due to environmental reasons
The controversy surrounding the construction of.
A tropical wave off the African coast moving west has a 60% chance of becoming a threat to the Peninsula
The tropical wave off the African.
Ways To Promote Creativity in Your Training Team
If you think creativity works only.
One dead after a fatal accident in Uman
On Thursday, June 23, in Umán,.
Subject accused of attempted femicide in Mérida is arrested in Tabasco
A subject accused of exercising violence.
Mexico registers 16,133 new COVID cases in the last 24 hours
Mexico reported 16,133 new COVID-19 cases.
Banxico makes record rate increase
The Bank of Mexico on Thursday,.
US Supreme Court ruled that American women no longer have a constitutional right to abortion
The Supreme Court ruled Friday that.