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The Mexican peso has been one of the strongest currencies of the past year, with the finance ministry citing an annual appreciation of 7.7% as of January 10. The peso traded near 18.65 per dollar in mid-January, its strongest level since 2020.
Analysts expect further gains toward 18.52.
A strong peso lowers the cost of dollar-denominated feed and grain imports for Mexican buyers, while making Mexican exports more expensive. This can marginally reduce Mexican import demand for U.S. commodities.
mexicobusiness.newsJan 25, 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.
