Mexican peso strengthens on US jobs data, hitting remittance value

The Mexican peso appreciated against the US dollar on July 2, 2026, trading around 17.54‑17.56 per dollar after U.S. non‑farm payrolls reported 57,000 jobs added in June and unemployment holding at 4.2%. Analysts linked the move to the weaker dollar and to heightened market sensitivity surrounding the US‑Mexico‑Canada trade agreement (USMCA) review. The stronger peso, dubbed a “superpeso,” is projected to erode the purchasing power of remittances sent from the United States to Mexico if the exchange rate remains at current levels for the rest of the year. Bank of Mexico’s FIX rate was set at 17.5368 pesos per dollar, with bank and money‑transfer quotes varying slightly. Market observers noted that the peso’s technical strength clashes with geopolitical uncertainty surrounding the USMCA negotiations.