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Barchart's column says the Mexican peso gained 15% in 2023 and has since traded lower, roughly back to unchanged. It highlights a 5.75% short-rate spread favoring Mexico that draws carry-trade flows, and notes elections in Mexico in June and the US in November.
Carry-trade inflows and the election-driven volatility can move the peso, which in turn changes the cost of dollar-priced feed imports for Mexican buyers.
barchart.comDon DawsonFeb 23, 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.
