The Mexican peso deepens its losses against the dollar, reaching a depreciation of 1.01 percent, bringing the exchange rate to 20.54 units. This represents an increase of 14 cents compared to the previous day's close. According to Bloomberg, this situation occurs amid the evaluation being made by operators regarding Donald Trump's second term and the members who will make up his new cabinet.
CI Banco analysts indicate that investors are concerned about the impact of Trump's political agenda on the Mexican economy. They are primarily focused on the appointments of officials who will be in the elected president's cabinet. Among the appointments already made by Trump is Tom Homan as 'border czar', who has expressed firmness on border security issues. A possible mass deportation of migrants, a campaign promise of Trump, would be detrimental to the Mexican economy, which relies heavily on remittances sent by Mexicans in the United States.
CIBanco analysts suggest that the exchange rate could fluctuate between 20.25 and 20.55 units. At bank windows, the dollar is quoted above 21 pesos, reaching 21.08 units for sale and 19.91 units for purchase, according to Citibanamex. Meanwhile, the dollar index (dxy) and the Bloomberg dollar index (bbdxy) show an increase of 0.55 percent.
In the foreign exchange market, some currencies are also depreciating against the US dollar: the Russian ruble by 1.84%, the South African rand by 0.65%, the Indonesian rupiah by 0.63%, the Malaysian ringgit by 0.63%, and the Czech koruna by 0.62%. Regarding 10-year bonds, the yield for the United States is 4.38%, while in Mexico it remains at 9.87%.
