The Mexican peso weakened past 18 per US dollar in early Friday trading, due to the Bank of Mexico's unexpected decision to lower its benchmark rate to 6.75% and increased global risk aversion. The currency is weakening for a third consecutive trading day and is also under pressure from a stronger US dollar, concerns about inflation, and geopolitical risks impacting oil supplies in the Middle East. The unexpected rate cut was primarily driven by perceived economic vulnerabilities including rising unemployment and high informal employment. The bank's decision to resume its easing cycle broke with the prevailing market expectation.