# Mexico peso flexes its muscle, breaks key 18 peso to dollar barrier

> 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.

- Date: 2023-03-03 · published 2023-03-03T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37081-mexico-peso-flexes-its-muscle-breaks-key-18-peso-to-dollar-barrier
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/business/mexico-peso-flexes-its-muscle-breaks-key-18-peso-to-dollar-barrier-idUSL1N35B1FW/

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