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The peso fell more than 3% against the dollar in the week to August 21, reaching its weakest level in nearly two years. It is down almost 14% over three months, the worst performance among emerging-market peers.
Six-month implied volatility has jumped near its highest in three years.
Currency weakness in Mexico raises the local cost of imported feed grains and meal. Rising volatility also makes import hedging more expensive for buyers.
bloomberg.comZijia Song, Maria Elena Vizcaino, Vinicius AndradeAug 21, 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.
