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A StoneX strategist's interview with Banxico deputy governor Irene Espinosa indicated that rate cuts look distant because the economy remains strong. Official rates have been held at 11.25% since March, and the peso is up about 15% against the dollar over the past year.
Higher-for-longer Mexican rates support the peso, making dollar-priced feed imports cheaper in local currency for Mexican buyers.
forex.comPaul WaltonDec 11, 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.
