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After touching its lowest level since March 2020 on Monday at 19.41, USD/MXN rebounded sharply and reached 19.73 on Tuesday. Analysts flagged rising volatility and a possible short-term consolidation in the 19.50 to 19.75 range.
The reversal signals that the peso's rally may be stalling, which would gradually raise the peso cost of US feed imports for Mexico. The effect on grain prices is limited because it is a technical currency move.
octaafrica.netMay 31, 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.
