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The Mexican peso gained as much as 1.4% to its strongest level since 2015 after US inflation data raised hopes that the Federal Reserve would ease. Analysts argue the currency is overvalued, but traders continue to buy it.
It remains one of the best performing Latin American currencies.
A stronger peso lowers the local cost of dollar-denominated feed ingredients for Mexican buyers. The move reflects global risk sentiment and dollar weakness rather than a change in feed supply.
bloomberg.comMichael O'Boyle, Davison SantanaJul 12, 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.
