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The peso strengthened against the dollar after Banxico held its policy rate at 11.25%, ruled out rate cuts this year and raised its 2024 inflation forecast to 3.87%. Softer US core PCE inflation of 3.9% year on year in August also weighed on the dollar.
A stronger peso lowers the local-currency cost of dollar-priced US feed imports, while the higher-for-longer rate stance supports the peso.
octaafrica.netSep 29, 2023
teletrade.orgSep 29, 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.
