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Last Tuesday, the Mexican peso opens a little weaker against US Dollar, strengthened gain from the past few days behind the positive rate result in Standard and Poor. At 10:10 am EDT, was trading in Mexico at MXN10.7655 to the US dollar, comparing to MXN10.7685 at the open and MXN10.7560 to US dollar close on Monday.
There’s a boost in performance last Monday on peso and domestic market from S&P positive outlook in Mexico’s BBB credit rates, cited improved aspects in the fiscal reforms.
This move must be providing a support in the peso in the medium term as told by the analyst, noting S&P’s adoption in the aspect of credit in Fitch Ratings and remained one notch below the Moody’s Investor Service.
“It was possible that there is a positive impact in the market after the change of perspective in Standard & Poor’s” The financial group Ixe stated on the daily report.
“Although, progressing the market will be returning to focus in evolution of fiscal reforms and outlook of inflation.” the company saw an initial support in the currency at MXN10.74 and expecting the marginal movements of central banks weekly auction on debts.
06:48
Posted on Jul-03-2007
