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The Mexican peso weakened against the dollar as the probability of a Trump election victory rose, with polls showing a very tight race. Analysts note Trump's tariff threats on Mexican imports may be hard to implement given integrated supply chains, while domestic judicial reform adds political risk.
USD/MXN started a new upward leg of a bullish pattern.
Tariff fears push the peso weaker, which raises the cost of US grains and meal for Mexican feed buyers. The tariff threat's uncertain implementation limits the magnitude of the move.
fxstreet.comJoaquin MonfortOct 28, 2024Not 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.
