The peso is marginally lower due to the dollar’s strength in a volatile session

The peso is marginally lower due to the dollar’s strength in a volatile session

he is Mexican peso It closed this Wednesday with a marginal loss against the dollar. he is exchange rate It ended trading operations at 19.8400 units per dollar, from a close of 19.8370 units yesterday, with data from the Bank of Mexico (Bank of Mexico).

The local currency ended the day practically stable and closed a choppy session, losing 0.02% due to the strength of the greenback. The pair has moved in a range of a maximum of 19.8930 pesos and a minimum of 19.7406 units.

Operators were hesitant and awaiting more information about a new round of fiscal stimulus in the US that could be approved soon, at the start of the Joe Biden administration, who will take office next Wednesday.

The peso yesterday regained some of the ground it lost against the dollar in recent days as the Treasury yield increased. After a halt in its rally, the dollar today resumed its recovery from its lowest level in nearly three years touched last week.

The Dollar Index (DXY), which measures the greenback’s strength against a basket of six reference currencies, rose 0.29% to 90.35 points at Banxico’s close. Yesterday it fell for the first time in four days with a low of 90.03 points.

Technically, the pair recovered after touching a low of 19.7400 pesos, where its 200-week exponential moving average, which is currently acting as a hesitation zone, is located with 20.2000 units as resistance.

“The peso against the dollar has visited a region of around 19,7400 units, which is a congested area where the cross can go in any direction,” analyst Alexander Londono of the brokerage firm ActivTrades explained in a report.

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