The peso was trading at 17.3860 per dollar, with a gain of 0.38% compared to the Reuters reference price on Thursday, December 7th, although it was set to end the week with a cumulative decline of 1.25%.
The Mexican peso appreciated this Friday, after learning that the US economy generated more jobs than expected in November, reducing the chances of seeing a rate cut by the Federal Reserve (Fed) at the beginning of the year.
The peso was trading at 17.3860 per dollar, with a gain of 0.38% compared to the Reuters reference price on Thursday, although it was set to end the week with a cumulative decline of 1.25%.
“Because the report is generally positive, the market is speculating in favor of the Mexican peso due to the close economic relationship that exists between Mexico and the United States,” said Banco Base, in an analysis note. “However, speculation is also strengthening that the Fed could take longer to begin cutting interest rates,” he added.
Nonfarm payrolls added 199,000 jobs last month, above the expectation of 180,000 jobs and the previous month’s figure of 150,000. The unemployment rate, meanwhile, fell to 3.7% from 3.9% previously.
TYT Newsroom