Why is the Mexican peso losing against the dollar today?

According to Base Bankhe mexican peso recorded a depreciation of 0.12 percent or 2.2 cents, trading around 18.55 pesos per dollarwith the exchange rate touching a minimum of 18.52 and a maximum of 18.56 pesos per dollar. Furthermore, he said that there are three reasons why the Mexican peso is depreciating today:

1. The US dollar continues to advance after the president of the Federal ReserveJerome Powell noted that it is not a certainty that the interest rate will be cut on December 10.

2. The risk outlook for Mexicosince a quarterly drop in GDP of 0.30 percent was confirmed in the third quarter of the year.

3. Negative economic indicators were published in China. The official manufacturing PMI for October stood at 49 points, below the market expectation of 49.6 points. This deterioration is mainly due to the trade war with the United States.