On February 11, 2026, the Mexican peso strengthened slightly against the dollar, closing at 17.17 units per dollar, aided by positive comments from Banco de Mexico's Jonathan Heath about potential interest rate cuts.
On February 11, 2026, the Mexican peso appreciated by 0.09 percent, finishing the day at 17.17 units per dollar, after reversing initial losses. This small gain occurred alongside a report of stronger-than-expected labor market data from the U.S., which impacted currency markets and perceptions of economic stability in Mexico.
Jonathan Heath, the deputy governor of Banco de Mexico, weighed in on the economic conditions, stating that if inflation trends continue as anticipated, there could be a decrease in the key interest rate as soon as March. This outlook reflects the central bank's assessment of inflation measures, which are closely linked to the strength of the peso against the dollar and other currencies.
In the context of global markets, the report of 130,000 new non-farm jobs in the U.S. for January, significantly higher than the 70,000 jobs predicted by economists, has influenced the expectations surrounding the Federal Reserve's potential interest rate decisions. As the unemployment rate dropped to 4.3 percent from 4.4 percent, the possibility of the Fed adjusting rates further tightened the market's focus on the Mexican peso's performance amid these developments.
