Mexico's exchange rate rose to its highest level in more than four months on Monday, as the U.S. dollar advanced and U.S. Treasury bond yields rallied across the board. The dollar was trading at 21.5040 Mexican pesos, a gain of 0.95% against Friday's Reuters reference price. In international operations during the early morning, the greenback rose to 21.6310 units.
The U.S. currency touched a three-month high, while the 10-year bond return remained near a more than one-year high. The moves came after the U.S. Senate approved a US$1.9 trillion COVID-19 relief plan on Saturday.
A positive U.S. jobs report sent the dollar to its highest level last Friday since November 2020. The exchange rate in Mexico spun its third weekly gain on Friday while accumulating an advance of more than 8% for the year.