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The Mexican peso weakened on September 23 as USD/MXN broke above a trendline resistance drawn from the year's high and tested 17.40. The move followed a hawkish Fed meeting that outweighed cautious Banxico signals and optimism over US trade talks.
Traders watched 17.54 and 17.68 as upside technical levels ahead of the Banxico decision.
Technical breakouts and Fed-driven dollar strength are driving the peso lower, which raises the peso cost of imported feed ingredients for Mexican buyers. The move is a currency event with limited direct effect on grain prices.
mnimarkets.comJack LewisSep 23, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
