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The Mexican peso closed 2023 at 16.95 per dollar, a cumulative gain of nearly 13% and its strongest annual performance since 1989. Analysts warned gains could slow in 2024 as Banxico is expected to begin cutting its record-high 11.25% benchmark rate.
A stronger peso raises the cost of Mexican exports and feed-related imports priced in dollars, and expected Banxico cuts could weaken the peso again, a factor for Mexican feed and meal demand.
finance.yahoo.comNoe TorresDec 29, 2023Not 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.
