The Mexican peso depreciated near 2% to touch 20.8 per USD, its lowest level since November 6th 2020 and extending losses for a sixth straight session, weighed down by rising US bond yields. The currency has also been under pressure amid concerns about a hit to Mexico's key manufacturing sector caused by a deep freeze in Texas last week which left millions without electricity. In particular, Texas’s outages forced major manufacturers across parts of Northern Mexico to suspend activities which may knock around 5% off industrial production this month.
Historically, the Mexican Peso reached an all time high of 25.78 in April of 2020. Mexican Peso - data, forecasts, historical chart - was last updated on February of 2021.
The Mexican Peso is expected to trade at 20.87 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 21.32 in 12 months time.