# Mexican peso leads LatAm FX lower as recession fears grow - Financial Post

> The Mexican peso fell 0.6% to 18.98 per dollar on Thursday after a 1.2% drop the prior session. Other Latin American currencies also weakened amid recession fears and hawkish central bank comments. Brazil's real slipped 0.1% after Lula criticised central bank independence.

- Date: 2023-01-19 · published 2023-01-19T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37997-mexican-peso-leads-latam-fx-lower-as-recession-fears-grow-financial-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Regional currency weakness and recession fears can dampen Latin American demand for imported feed ingredients. Currency moves also shift the relative cost of U.S. feed exports to Mexico and Brazil.

## Read by commodity

- USDBRL: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-06-28 | [Chilean peso rallies off record lows, Mexican peso slumps 1% \| Financial Post](https://feedsoft.ai/events/41165-chilean-peso-rallies-off-record-lows-mexican-peso-slumps-1-financial-post.md) | +3.5% | +3.1% |
| USDBRL | 2023-05-31 | [Brazil's real leads fall in Latam FX, Chile's peso down as copper output drops \| Financial Post](https://feedsoft.ai/events/36145-brazil-s-real-leads-fall-in-latam-fx-chile-s-peso-down-as-copper-output-drops.md) | -3.0% | -4.3% |
| USDBRL | 2021-05-12 | [Colombian peso falls on protests, Brazil real leads Latam FX declines \| Financial Post](https://feedsoft.ai/events/47400-colombian-peso-falls-on-protests-brazil-real-leads-latam-fx-declines-financial.md) | +0.5% | -2.8% |
| USDBRL | 2021-08-26 | [Latam FX rattled by Fed fears, rising COVID cases \| Financial Post](https://feedsoft.ai/events/45773-latam-fx-rattled-by-fed-fears-rising-covid-cases-financial-post.md) | -1.3% | +0.9% |
| USDBRL | 2024-06-26 | [Currencies from Mexico, Brazil Lead Emerging Peers Lower \| Financial Post](https://feedsoft.ai/events/29991-currencies-from-mexico-brazil-lead-emerging-peers-lower-financial-post.md) | +4.4% | +3.7% |

## Sources

- financialpost.com: https://financialpost.com/news/mexican-peso-leads-latam-fx-lower-as-recession-fears-grow/

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