# USD/MXN: Mexican Peso supported and stable ahead of elections in mid-2024 – Wells Fargo — Octa

> Wells Fargo economists say the Mexican peso looks expensive on valuation but should stay supported and stable ahead of mid-2024 elections, because political risk is diminishing and the central bank is hawkish. They also favour the Brazilian real over other Latin American currencies.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/35721-usd-mxn-mexican-peso-supported-and-stable-ahead-of-elections-in-mid-2024-wells
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stable peso keeps Mexican import costs for feed and grain predictable, which supports steady buying. The forecast carries little direct price impact on feed commodities.

## Read by commodity

- USDMXN: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1050470/

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