Mexican peso appreciates 0.50% and stabilizes below 20 units per dollar

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Mexico City, Jul 2 (EFE) .- The Mexican peso had a weekly appreciation of 0.50%, closing this Friday at 19.77 units per dollar in the interbank market, moving away from 20 pesos per greenback for one more week .

The data implies a weekly appreciation of the peso of just 10 cents compared to the exchange rate of 19.87 units of the previous Friday, according to the data reported by the Bank of Mexico.

“The exchange rate touched a maximum of 20.08 and a minimum of 19.74 pesos” this week, the director of financial analysis of Banco Base, Gabriela Siller, explained to Efe, speaking of a “moderate appreciation.”

The analyst attributed the appreciation to a “stability awaiting relevant economic information.”

The Mexican peso also benefited in part from the indicators in the United States, such as the labor market released this Friday.

“Non-farm payroll showed the creation of 850,000 job positions in the United States during June, exceeding market expectations. This did not fuel speculation on monetary policy and instead generated a session of optimism in financial markets (.. .) and in the foreign exchange market, “said the expert.

Compared to the previous day, when the currency reached 20.02 units per dollar, the Mexican currency appreciated 1.25% this Friday.

Despite the resistance of the peso, Siller stressed that there is a “general strengthening of the dollar.”

The peso closed a couple of weeks ago at 20.62 units per greenback, falling to levels not seen since March, but Mexican President Andrés Manuel López Obrador attributed it to “external factors.”

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