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The Mexican peso reached its strongest level against the dollar since late 2015, trading at 16.63 per dollar on Friday. The move followed a slowdown in US inflation that strengthened the case for the Federal Reserve to end its rate hikes.
Analysts expect further gains, with one forecasting 16.40.
A weaker dollar and stronger peso cut the local-currency cost of US dollar-priced feed imports for Mexican buyers. The effect is a currency move rather than a change in grain supply or demand.
investing.comJul 28, 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.
