On February 16, the Mexican peso has shown a minor depreciation against the U.S. dollar, primarily due to lower liquidity in the market stemming from the closure of U.S. markets for Presidents' Day. As of today, the exchange rate stands at 17.16 pesos per dollar, reflecting a slight increase of 0.02 percent compared to the last trading session on February 13. This small variation indicates a relatively stable currency amid the current economic climate.

Market analysts, including Janneth Quiroz from Monex, have highlighted that the exchange rate is experiencing minimal volatility due to the modest economic agenda in both Mexico and the United States. The holiday in the U.S. coincides with closures in mainland China during the Lunar New Year, further reducing trading volumes. Despite this, market participants remain focused on U.S. interest rate trends, particularly following slower-than-expected inflation data, which has led traders to price in a potential interest rate cut by the Federal Reserve in July.

The situation reveals how external factors, such as holidays and economic data reports, can impact currency exchange rates. With reduced market participation, the peso's slight depreciation is not alarming, but it underscores the interconnectedness of economic developments in the U.S. with Mexican currency fluctuations. Traders and investors will continue to monitor future economic indicators and interest rate expectations to navigate any upcoming volatility in the currency market.