Attention is focused on the United States elections, scheduled for November 5. According to Bloomberg, the Mexican peso depreciated by 0.09% or 1.72 cents compared to the previous close, with an exchange rate that could range between 19.70 and 19.90 pesos. The Mexican Senate approved a ruling to promote constitutional supremacy and render ineffective the amparos and controversies against constitutional reforms, placing the exchange rate at 19.86 per dollar.
"A week marked by the rebound in bond yields comes to an end as expectations for interest rate cuts by the Federal Reserve moderate, and as the U.S. elections approach," stated analysts from CIBanco. Uncertainty prevents the reversal of the reform to the Judiciary. At bank windows, the dollar is quoted at 20.33 pesos per greenback, while the dollar index (dxy) reports a decrease of 0.07% to 103.98 points. Additionally, the Bloomberg dollar index (bbdxy) gains 0.06%, placing it at 1,258.44 units.
In the money market, the yield on the 10-year bond in the U.S. is 0.21%, while in Mexico it remains at 10.40%. Among the most depreciated currencies are the Russian ruble (-0.61%), Brazilian real (-0.55%), South Korean won (-0.53%), Indonesian rupiah (-0.36%), Hungarian forint (-0.32%), and Czech koruna (-0.22%). The Mexican peso begins Friday's operations with little change but in losing territory, waiting to see how the conflict in the Middle East develops, over a year after the start of the war between Israel and Gaza.
