# USD/MXN Mexican Peso Sinks Further as Election Shock Reverberates - Bloomberg

> The peso sank for a second session on June 4 after an unexpected landslide election win by the ruling party. It fell as much as 2.9% to 18.1936 per dollar, and Mexico's benchmark stock index dropped 6.1%.

- Date: 2024-06-04 · published 2024-06-04T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/30000-usd-mxn-mexican-peso-sinks-further-as-election-shock-reverberates-bloomberg
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

The sharp peso sell-off raises the local currency cost of imported feed ingredients, which can weigh on Mexican import demand for US grains and meals.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-06-04/mexican-peso-sinks-further-as-election-shock-reverberates

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