# USD/MXN tumbles to lowest since January 2021 near 19.50 — Octa

> The USD/MXN pair fell to 19.56 on Friday, its lowest intraday level since January 2021, as the peso led gains among major currencies. The move was driven by a weaker dollar, risk appetite, and expectations of further tightening by Banxico after its 50bp hike to 7%.

- Date: 2022-05-27 · published 2022-05-27T12:00:00.000Z
- Category: market · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/41662-usd-mxn-tumbles-to-lowest-since-january-2021-near-19-50-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 reduces the peso cost of US feed imports for Mexican livestock and poultry producers. The move is a routine currency move with no new supply or demand shock for grains.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/973983/

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