Puerto Vallarta, Mexico - The Mexican peso weakened on Monday following the release of an inflation report that reinforced market expectations of additional significant cuts to the country’s key interest rate.

By midday in international trading, the peso was quoted at 20.4514 pesos per dollar, marking a 0.20% decline from the LSEG reference price on Friday and extending its losing streak to a second consecutive session.

The fresh data from the first half of February showed Mexico’s general consumer price index rebounding to 3.74 . . .