# Latam currencies set for worst week in 6 months as dollar soars - Finance Funds Update

> Latin American currencies were set for their worst week in six months as the dollar rallied after a hot US inflation print on April 10 dampened hopes for a June Fed rate cut. The MSCI Latam currency index fell 1.1% on the day and was on track to end the week 1.4% lower. Mexico's peso dropped 1.6% against the dollar, heading for its worst weekly performance of 2024.

- Date: 2024-04-12 · published 2024-04-12T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/31048-latam-currencies-set-for-worst-week-in-6-months-as-dollar-soars-finance-funds
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stronger dollar and a weaker peso raise the local-currency cost of imported feed ingredients for Mexico and other Latin American buyers. Higher US rates for longer also tighten financing conditions across the region.

## Read by commodity

- DXY: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-18 | [Dollar strength weighs on Latam FX; copper prices lift currencies of Peru, Chile - Finance Funds Update](https://feedsoft.ai/events/31046-dollar-strength-weighs-on-latam-fx-copper-prices-lift-currencies-of-peru-chile.md) | -0.1% | -1.4% |
| DXY | 2024-01-29 | [Asia currencies limp into 2024 on Red Sea, China, Fed woes \| Insights - Finance Funds Update](https://feedsoft.ai/events/32355-asia-currencies-limp-into-2024-on-red-sea-china-fed-woes-insights-finance-funds.md) | +0.2% | +0.4% |
| DXY | 2016-11-18 | [Dollar index set for biggest 2-week rise in 20 months](https://feedsoft.ai/events/8329-dollar-index-set-for-biggest-2-week-rise-in-20-months.md) | +1.0% | +1.3% |
| DXY | 2021-12-09 | [Strong dollar weighs on Latin American currencies \| Financial Post](https://feedsoft.ai/events/43821-strong-dollar-weighs-on-latin-american-currencies-financial-post.md) | +0.8% | -0.3% |
| DXY | 2023-02-15 | [Most Asian Currencies Hit 1-Month Lows As Dollar Firms After U.S. CPI Data](https://feedsoft.ai/events/37602-most-asian-currencies-hit-1-month-lows-as-dollar-firms-after-u-s-cpi-data.md) | +0.8% | +1.8% |

## Sources

- financefundsupdate.com: https://financefundsupdate.com/currencies/latam-currencies-set-for-worst-week-in-6-months-as-dollar-soars/

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