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A Dallas Fed analysis finds the Mexican peso has appreciated about 20% against the dollar since the Fed's tightening cycle began in March 2022, outperforming other emerging-market currencies. The authors attribute this to interest rate differentials, investor positioning and macro fundamentals.
The peso's sustained strength lowers the local-currency cost of US feed grain and meal imports for Mexico, but this is background analysis with no new policy or price shock.
dallasfed.orgPon Sagnanert, Jesus Cañas, Luis TorresSep 26, 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.
