# Peso flirts with dropping below 18 to the US dollar

> The Mexican peso briefly strengthened below 18 per dollar on Tuesday, reaching 17.93 before retreating to about 18.03 by midday. The move followed stronger-than-expected third-quarter Mexican growth data and reduced risk aversion as Middle East tensions eased.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/33835-peso-flirts-with-dropping-below-18-to-the-us-dollar
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A firmer peso lowers the local cost of US feed grain and meal imports for Mexican buyers, a modest supportive factor for demand, though the move is small and reversed intraday.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/business/peso-flirts-with-dropping-below-18-to-the-us-dollar/

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