Overview
- The Federal Reserve kept its policy rate at 3.50%–3.75% in its June meeting and signalled a more restrictive outlook, which pushed the U.S. dollar higher and changed market expectations for future rate moves.
- Mexico’s peso traded roughly between 17.33 and 17.38 per USD as of the most recent sessions, with local stocks slipping and traders noting thinner liquidity around the U.S. Juneteenth holiday.
- Argentina’s official retail dollar reached about ARS 1,480 for sale and the wholesale rate near ARS 1,461 as the BCRA continued buying reserves for June but slowed the pace, with reported cumulative purchases of about USD 1,056 million.
- Parallel and financial dollar quotes in Argentina clustered in the ARS 1,460–1,490 corridor, a pattern analysts link to reduced agro export dollar supply and stronger corporate and retail demand for dollars.
- Geopolitical jitters from the suspension of U.S.‑Iran negotiations and low holiday liquidity accentuated price swings, leaving markets to watch how normal U.S. trading when it reopens could change FX flows next week.