# Mexican Peso slides to April lows as Banxico shrugs off Fed gap

> The Mexican peso slid to its weakest level since April on September 24, with USD/MXN trading near 17.75 after Banxico held its benchmark rate at 6.50%. Banxico said policy would not mechanically follow Fed moves, and Mexican headline inflation came in above forecasts. Hawkish Fed speakers raised expectations of further US rate hikes.

- Date: 2026-09-24 · published 2026-09-24T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/17687-mexican-peso-slides-to-april-lows-as-banxico-shrugs-off-fed-gap
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Peso weakness raises the local-currency cost of dollar-priced feed imports into Mexico, while a firmer dollar tends to pressure dollar-denominated commodity prices. The effect on ag prices is modest.

## Read by commodity

- DXY: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-15 | [Mexican Peso strikes back as hot US PPI fails to lift Dollar](https://feedsoft.ai/events/17273-mexican-peso-strikes-back-as-hot-us-ppi-fails-to-lift-dollar.md) | -0.5% | — |
| DXY | 2020-04-16 | [USD/MXN Price Analysis: Mexican peso drops as Fitch downgrades Mexico to BBB- — Octa](https://feedsoft.ai/events/53856-usd-mxn-price-analysis-mexican-peso-drops-as-fitch-downgrades-mexico-to-bbb-octa.md) | +0.7% | +0.4% |
| DXY | 2026-09-23 | [Mexican Peso selloff deepens as Fed hawks drive USD/MXN toward 17.50](https://feedsoft.ai/events/17688-mexican-peso-selloff-deepens-as-fed-hawks-drive-usd-mxn-toward-17-50.md) | +1.2% | +1.5% |
| DXY | 2016-11-18 | [Mexican peso falls despite rate hike, Fed action looms](https://feedsoft.ai/events/74115-mexican-peso-falls-despite-rate-hike-fed-action-looms.md) | +1.0% | +1.3% |
| DXY | 2019-08-01 | [Gold prices slip to two-week low as US Fed dashes hopes of more rate cuts](https://feedsoft.ai/events/57513-gold-prices-slip-to-two-week-low-as-us-fed-dashes-hopes-of-more-rate-cuts.md) | +1.1% | +2.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-slides-to-april-lows-as-banxico-shrugs-off-fed-gap-202609242012

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.