Mexican Peso climbs on traders’ optimism following Trump-Sheinbaum’s call

• Mexican Peso appreciates 0.59% against US Dollar, poised for strong weekly performance.
• Banxico minutes suggest potential for 50 bps rate cut in December, boosting Peso’s outlook.
• President Sheinbaum optimistic about averting Trump’s proposed 25% tariffs, bolstering MXN stability.

The Mexican Peso appreciated against the US Dollar during the North American session as the Greenback extended its downfall and is about to hit its most significant weekly loss in three months. Speculation that US President-elect Donald Trump may moderate his trade rhetoric weighed on the American currency. Therefore, the USD/MXN trades at 20.29, down 0.59%.

Mexico’s economic docket was light on Friday, but the Bank of Mexico (Banxico) revealed its November 14 monetary policy meeting minutes on Thursday.