The Mexican peso has strengthened to its best position of the year against the US dollar, trading at 18.66 pesos per dollar as of Thursday’s close. This marks the currency’s strongest showing since August 15, 2024.
The peso’s upward momentum continued into Friday, with the exchange rate improving further to 18.63 pesos per dollar by early afternoon. This latest gain represents the culmination of a seven-day winning streak that was only briefly interrupted.
The Mexican currency first broke the significant 19 peso per dollar barrier last month, and has continued to appreciate despite ongoing trade tensions with the United States and uncertainty in global markets.
Financial analysts note that the peso’s strength comes as markets have temporarily set aside concerns about Middle East geopolitical tensions, though worries about US-Mexico tariff negotiations are beginning to resurface.
Interestingly, the US dollar has also shown strength against other major currencies, with the dollar index rising 0.35% to 96.77 following better-than-expected US employment data. American job creation reached 147,000 positions, significantly outpacing the projected 110,000, and the US unemployment rate unexpectedly dropped from 4.2% to 4.1%.
The simultaneous strengthening of both currencies points to a complex economic relationship between the neighboring nations, as both economies show resilience despite ongoing trade discussions.
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