# USD/MXN trims losses after hitting the lowest level since 2020 near 19.00 — Octa

> The Mexican peso strengthened as USD/MXN broke below 19.25 and fell to 19.03, its lowest since February 2020, amid a broad rally in emerging market currencies. The pair later recovered toward 19.17 as the dollar bounced during the American session. Traders are watching US GDP, the Friday payrolls report and Banxico's expected smaller December hike.

- Date: 2022-11-29 · published 2022-11-29T12:00:00.000Z
- Category: market · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/38890-usd-mxn-trims-losses-after-hitting-the-lowest-level-since-2020-near-19-00-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger peso lowers the local-currency cost of imported US feed grains and meal for Mexican buyers, while a weaker dollar broadly supports dollar-denominated commodity prices.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1010783/

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