The Mexican peso was trading at 20.4 per USD, down slightly from a one-week high of 20.3 touched on August 4th, after a robust US jobs report for July raised bets of another large hike by the Federal Reserve, lifting the dollar. Meanwhile, Mexico's consumer prices rose higher than expected in early July, boosting expectations of further interest rate hikes as the central bank struggles to tame stubbornly high inflation. However, the Bank of America has downgraded its 2023 growth forecast for Mexico's economy to 0% from 1% amid a potential U.S downturn, predicting the country will reach the brink of recession.
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 August of 2022.
The Mexican Peso is expected to trade at 20.76 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 21.85 in 12 months time.