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ING expects the USD/MXN pair to return to around 19.00 soon after recent peso underperformance. Banxico raised its policy rate by 50 basis points to 10.50% and signaled another 50 basis point hike in February.
A firmer peso lowers the local-currency cost of dollar-priced US feed grains and meal for Mexican buyers, while high Mexican rates support the currency and reduce the pressure on import costs.
octaafrica.netDec 16, 2022Not 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.
