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The Mexican peso rallied for a third day and broke below 18.00 per dollar as US Fed officials signaled they may not need further rate hikes and US Treasury yields fell. Mexican inflation is decelerating toward Banxico's target, though the central bank is expected to keep rates high.
A stronger peso lowers the local cost of US feed grain and meal imports for Mexican buyers, a modest supportive factor for demand at the margin.
teletrade.orgOct 10, 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.
