Mexican peso threads three falls, approaches 21 / dlr

MEXICO CITY, Nov 22 (Reuters) – The Mexican peso depreciated for the third consecutive session on Monday, detaching itself from the behavior of its emerging peers in the region, as the market waited for relevant economic information.

The local currency was trading at 20.8769 per dollar, down 0.25% compared to 20.8240 in the Reuters reference price on Friday. In earlier trading it depreciated to 20.9330 units, its weakest level in almost three weeks.

In the year, the peso has fallen by more than 5%.

This week will be released data on local inflation and a review of economic growth for the third quarter, in addition to the minutes of the latest monetary policy meetings of the United States Federal Reserve and the Bank of Mexico.

Markets have been hit recently by fears of further closures of productive activities in Europe to try to curb a rebound in COVID-19 infections.

“During the week, the performance of the financial markets will depend mainly on the publication of relevant economic indicators and news about the advance of the fourth wave of coronavirus,” said financial group Banco Base in an analysis note for its clients.

“The latter being a risk factor for the performance of the markets, since episodes of risk aversion could be observed,” he added. (Report by Miguel Angel Gutiérrez)

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