On the morning of this Wednesday, March 5, the Mexican peso has increased its gains against the dollar, due to the expectation that President Donald Trump could agree to a relief in the tariffs imposed on Mexico. Howard Lutnick, the U.S. Secretary of Commerce, mentioned the possibility that this plan could take place during the afternoon of the same Wednesday, specifically in terms of possible tariff reductions in sectors such as automobiles.
Meanwhile, the exchange rate has shown an appreciation of 0.94% against the dollar, standing at 20.40 units at 9:00 AM. At bank windows, the dollar was quoted at 20.98 units for sale and 19.82 units for purchase. At the same time, the dollar index (DXY) has decreased by 0.94% to 104.75 points, and the Bloomberg dollar index (BBDXY) has fallen by 0.77% to 1274.64 units.
Gabriela Siller, director of economic analysis at Banco Base, mentioned that the appreciation of the Mexican peso is due to the possible moderation of tariffs by Trump. Kathleen Brooks, head of research at XTB, added that the dollar has been affected by the recovery of the euro, which implies a weakening of the dollar as President Trump's influence declines.
In the realm of currencies, this Wednesday, the Swedish krona has stood out with an increase of 1.44%, the Polish zloty with a rise of 1.13%, the Czech koruna with an increase of 0.94%, the Chilean peso with a growth of 0.93%, and the Hungarian forint with an advance of 0.92%.
