# Mexican peso corrects: Don’t panic! | articles | ING THINK

> USD/MXN spiked after Banxico announced it would unwind its short-dollar FX forward position built during 2017 and 2020, with roughly $7.5 billion outstanding. ING expects the peso to weaken temporarily in September but still outperform its forward curve.

- Date: 2023-09-01 · published 2023-09-01T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/34343-mexican-peso-corrects-don-t-panic-articles-ing-think
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

The expected temporary peso weakness would raise the peso cost of dollar-priced grain and meal imports in the near term, which is relevant to Mexican feed buyers.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- think.ing.com: https://think.ing.com/articles/mexican-peso-corrects-dont-panic/

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