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Standard Chartered says a rising likelihood of a Trump victory in the November US election could weaken the Mexican peso. The bank also expects Banxico to cut rates cautiously, possibly avoiding moves larger than 25 bps, amid election-related volatility.
Political risk that weakens the peso would raise the cost of US feed-grain imports for Mexico. A slower Banxico easing path also affects local financing costs for feed producers.
fxstreet.comFXStreet Insights TeamJan 31, 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.
