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The Federal Reserve held its federal funds rate at 5.25%-5.50% and said it would slow balance sheet runoff starting in June, cutting the monthly Treasury reduction from $60 billion to $25 billion. Chair Powell said rate cuts require greater confidence that inflation is moving toward 2%.
The peso gained about 0.8% against the dollar after the decision.
A more dovish Fed stance weakens the dollar and supports emerging-market currencies such as the peso. That lowers the local-currency cost of imported feed for Mexico.
fxstreet.comChristian Borjon ValenciaMay 1, 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.
