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The peso closed at 17.05 per dollar on June 16, its strongest level in seven and a half years, and has gained about 12.6% this year. The Fed left its rate at 5.00-5.25% and signalled two more hikes, while high Mexican rates and strong capital and remittance inflows supported the currency.
A peso at a multi-year high lowers the local-currency cost of dollar-priced feed ingredients for Mexican buyers, but the effect is currency-driven and modest for feed prices.
mexiconewsdaily.comMND StaffJun 17, 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.
