LatinNews Regional Monitor: Mexico - 30 April 2020

* The Mexican peso has appreciated against the US dollar after three consecutive falls, trading at MS$23.87/US$1 today (30 April), a move linked to the decision by the US Federal Reserve (Fed) to keep its benchmark interest rate unchanged at 0%-0.25%. The Fed plans to maintain this rate “until it is confident that the [US] economy has weathered recent events and is on track to achieve its maximum employment and price stability goals”. Mexico’s state news agency Notimex cites as reasons for the peso’s recovery “a bigger appetite for global risk, and growing optimism about the possibility of lockdown measures employed to tackle the spread of the coronavirus being relaxed in some developed countries soon”.

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