The peso mexicano closed Thursday at 17.2881 per dollar, its strongest end to the session in the latest move that traders will carry into Friday’s U.S. jobs report. The currency gained 0.30% on the day, adding 5.13 centavos from 17.3394 and trading between 17.3500 and 17.2677.

The move came as markets took on more risk after news of a ceasefire agreement between Israel and Lebanon. The dollar weakened from a two-month high, the U.S. Dollar Index fell 0.08% to 99.45, and U.S. crude oil, WTI, dropped 3.15% to $93 a barrel, a mix that favored currencies like the peso.

For readers watching the peso-dollar rate, the point of the day was the close itself. Traders now have a fresh reference level in 17.2881, and the session showed how quickly the local currency can respond when global sentiment turns and the dollar loses momentum.

There was, however, a catch beneath the calm. Later, it became known that Hezbollah rejected the ceasefire and that Israel kept striking southern Lebanon, so the relief that helped markets on Thursday was not as settled as it first appeared. That matters because the peso’s gain was built on a risk-on mood that could fade just as fast as it formed.

The peso had also been leaning on a technical floor. Roga Capital said the currency had built a support line from May 24, a level that had been tested six times, while EBC Financial Group described 17.26 pesos per dollar as an important consolidation zone with heavy corporate demand and hedging interest. Thursday’s close left the peso above that area, but not by much.

What comes next is the test traders were already preparing for: the official U.S. employment report due Friday, June 5, 2026. That release could either extend the dollar’s slide or pull it back, and with the peso now sitting near a closely watched support zone, the next move may matter more than Thursday’s gain.