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CITY OF MEXICO.- The "ghost" of the old tensions between the United States and its main trading partners led to a virtually widespread sale of currencies belonging to emerging countries, which affected also negatively to the Mexican currency .
An unfavorable international environment contributed to diluting the confidence initially aroused after seeing the results he achieved Andrés Manuel López Obrador.
The Bank of Mexico has published that l interbank dollar closed on Monday at 20 055 units. During the day, the peso lost 18.20 cents, or 0.92%.
In the banking window the greenback is sold at 20.35 units, higher than the 20 units registered on Friday as the closing date for Citibanamex.
The exchange rate showed a maximum of 20.20 units, while the minimum was 19.90 units on the wholesale market.
On a sample of 24 currencies belonging to emerging countries, followed by Bloomberg, the dollar rose against 22 and fell by only two.
The Mexican peso ranks ninth among the worst performers at the beginning of the week.
While the first, second and third place were for the Polish Zloty, the Czech crown and the Russian ruble with falls of 1.44, 1.18 and 1.16 in each case.
On Monday, the attention of participants in the foreign exchange market shifted, in large part, from the electoral process in Mexico to an international context where an unfavorable "climate" prevailed.
Fear of further escalation of trade tensions between the United States and its major trading partners, such as China, has been a catalyst for the dollar's strength in the international market.
The index that measures the behavior of the greenback against a basket of ten currencies gains 0.55%.
In addition, the world's main currency was supported by economic figures that showed a good performance of the North American economy.
The ISM manufacturing indicator rose surprisingly to 60.2 points, above the expected 58.5, survey conducted by Bloomberg.
The biggest dollar demand was also due to political instability in Germany before factors related to the migration problem.
To international tensions, adds the cooling of expectations regarding the North American Free Trade Agreement (NAFTA).
"The NAFTA, I could sign it tomorrow, but I'm not happy, I want to make it fairer, okay?" Trump told Fox News on Sunday afternoon, adding that "I want to wait until after the elections" to sign, referring to the November contest to renew his country's convention.
On another front, there is unfavorable behavior on the oil market a situation that contributes to the downward pressure on the Mexican currency.
The price of crude oil from West Texas loses 0.04% to 74.12 dollars a barrel, while the Brent rate drops by 1.96% to 77.68 dollars.
The decline in oil prices was determined by Trump's request to Saudi Arabia to increase its production.
In the domestic sphere, he stressed the fact that in the auction to renew the maturity of currency hedges, with a maturity of 30 days and expiring on August 1, the demand was 630 million dollars, exceeded by 3.15 times the 200 million finally placed.
The entry of dollars for family remittances was good news, but insufficient to neutralize the sale of Mexican currency.
Mexicans working abroad sent $ 3 billion in May to their parents living in our country.
Participants in the foreign exchange market expect to know, finally, the composition of the Congress that emerged from Sunday's vote to determine the room for maneuver with the new government led by Andrés Manuel López Obrador, on December 1 of this year .
The exchange rate shows resistance at 20.50 pesos. While the nearest support is at 19.50 units, on the wholesale market.
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