# Mexican peso rises as dollar dips, oil gains | Financial Post

> The Mexican peso outperformed Latin American peers on Monday as the dollar index slipped 0.3% and crude prices hit their highest in over two months. Traders were also watching whether an EU meeting would agree to ban Russian oil imports, and China's easing of COVID-19 restrictions supported global growth hopes.

- Date: 2022-05-30 · published 2022-05-30T12:00:00.000Z
- Category: market · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/41661-mexican-peso-rises-as-dollar-dips-oil-gains-financial-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer peso lowers Mexico's local-currency cost of imported US feed grains and meal, which can ease buying pressure on US corn and soybean meal. Higher crude prices feed into diesel and freight costs for feed deliveries.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- USDMXN: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/mexican-peso-rises-as-dollar-dips-oil-gains

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