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USD/MXN was struggling to push above 18.70 after touching a weekly low of 18.63, as risk aversion rose on geopolitical tensions and traders awaited US inflation data. Markets expect the Fed to keep rates higher for longer, and Banxico is seen as a firm inflation fighter.
Risk-off moves and a firmer dollar expectation can lift USD/MXN and raise the peso cost of imported feed for Mexican buyers. The effect is limited while Banxico's tightening keeps the peso supported.
octaafrica.netFeb 13, 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.
