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The Mexican peso strengthened about 0.7% against the dollar, with USD/MXN trading near 20.44 after Banxico released minutes showing policymakers worried about inflation and wages. Banxico had hiked its benchmark rate by 50bp to 5.50%.
A firmer peso lowers the local-currency cost of US dollar-priced feed imports into Mexico, modestly supporting buyer margins. Inflation signals point to further tightening that could weigh on domestic demand.
teletrade.orgJan 6, 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.
