Overview
- The peso strengthened to about 17.84 per dollar, its best level since July 2024, with a 0.42% gain on the day, according to Banxico.
- December U.S. CPI and core readings reinforced expectations the Fed will hold rates this month, with futures pricing rising odds of a June quarter-point cut.
- Analysts pointed to Mexico’s stable yield advantage over the U.S. as a key draw for carry trades and a driver of resilient peso demand.
- Mexico’s equity benchmark, the S&P/BMV IPC, fell roughly 0.68% on profit-taking despite currency strength.
- In Argentina, official and parallel dollar quotes eased, Banco Nación’s retail dollar closed at ARS 1,485, the blue hovered near ARS 1,505, and the BCRA reported net purchases of about US$55 million.