FX.co ★ Mexican Peso Hits 6-Week High

The Mexican peso strengthened to around 17.27 per U.S. dollar, its highest level since late February. The advance was driven by broad dollar weakness and a pickup in risk appetite, underpinned by optimism over diplomatic progress between the United States and Iran. Despite global uncertainty, Mexico continues to attract investor interest, supported by relatively high interest rates and solid manufacturing performance. Monetary policy remains a key catalyst, with the benchmark rate at 6.75%, comfortably above the 4.59% inflation rate. Meanwhile, February exports rose 15.8% to $56.85 billion, boosted by strong gains in mining and manufactured goods. This resilience was further underscored by a 4.2% year-over-year increase in auto exports in March, to 310,205 units.