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The Mexican peso strengthened to 16.52 per US dollar on Wednesday morning, its strongest level in more than eight years. The move followed a 0.7% gain from the prior close of 16.64 and a roughly 1.4% gain for the week.
A stronger peso raises the local cost of Mexican imports of US feed grains and soymeal, which can dampen Mexican buying and weigh modestly on US export prices.
mexiconewsdaily.comMND StaffMar 27, 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.
