# Mexican Peso sinks, drops for fifth straight session

> The Mexican peso fell to a seven-week low after Mexico's trade deficit widened to its worst level since August 2020, with exports contracting 5.7% year on year. USD/MXN traded near 18.67, up more than 1.2%, as month-end dollar demand and the wider dollar rally added pressure.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/29519-mexican-peso-sinks-drops-for-fifth-straight-session
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A weaker peso makes US feed grains and meal more expensive for Mexican buyers, which can soften import demand at the margin. Traders are also watching the coming Fed decision for the next move in USD/MXN.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-plunges-as-trade-deficit-widens-and-usd-strengthens-202407291739

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