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The Mexican peso broke through 18.00 per dollar for the first time in nearly five years on March 3. Support came from solid fiscal policy, strong remittance inflows and a wide interest rate gap between Banxico and the Fed.
A stronger peso lowers the cost of dollar-priced feed imports for Mexico, which can ease domestic feed margins. The impact on global grain prices is minor.
reuters.comIsabel WoodfordMar 3, 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.
