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The Mexican peso weakened again after a brief recovery, trading above 18 per dollar and reaching 18.30 on Wednesday. Analysts attributed the move to heightened risk aversion from Middle East tensions and a firmer dollar index.
A weaker peso raises the local cost of imported US feed grains and meal for Mexican buyers, a mild negative for demand at the margin.
mexiconewsdaily.comMND StaffOct 18, 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.
