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The Mexican peso rose to 21.27 per dollar on Nov 30, its strongest level in about a week, after the dollar weakened broadly. The peso then gave back part of its gains after Fed Chair Powell said it was time to drop 'transitory' as a description of inflation, which lifted Treasury yields and the dollar.
A firmer peso lowers the local-currency cost of imported feed ingredients, but the move is driven by short-term dollar swings tied to Fed commentary, so the effect on feed prices is limited.
octaafrica.netNov 30, 2021Not 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.
