# Mexican Peso strengthens against US Dollar amid risk-on mood — Octa

> The Mexican peso rose more than 0.30% against the dollar on Monday, trading near 17.13 after a daily high of 17.25. Mexico's mid-November inflation data and Banxico minutes were due this week, and swaps priced about 50 bps of cuts for the first half of 2024.

- Date: 2023-11-20 · published 2023-11-20T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/33388-mexican-peso-strengthens-against-us-dollar-amid-risk-on-mood-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stronger peso lowers the cost of US grain and meal imports for Mexican feed mills, supporting demand. The move reflects broad dollar weakness rather than a change in grain fundamentals.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1076950/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.