Loading…
The Mexican peso retreated from a three-month high of 20.64 per dollar on Wednesday and consolidated near 20.50 on Thursday. Technical indicators suggested short-term consolidation, with support at 20.40 and 20.20.
Bank of Mexico was due to announce a policy decision with a 25 basis point hike expected.
A stronger peso lowers the local-currency cost of dollar-priced feed ingredients such as corn, soybean meal and DDGS imported into Mexico. Price effects on these feed inputs are limited, so the move is mostly neutral for feed buyers.
octaafrica.netSep 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.
