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The Mexican peso rose 0.4% to 20.55 per dollar after INEGI reported first-half July inflation of 0.43%, above forecasts, and annual inflation of 8.16%. The data strengthened expectations of another 75 basis point rate hike by Banxico in August.
Higher Mexican interest rates support the peso and tighten credit for Mexican livestock and feed buyers, which can slow feed demand and pressure US corn and meal export sales to Mexico.
financialpost.comReutersJul 22, 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.
