# EMERGING MARKETS-Mexican, Colombian FX leads Latam losses as oil rally cools - CNBC Africa

> Mexican and Colombian currencies fell more than 1% on Tuesday as the rally in crude oil paused and prices eased from recent highs. Expectations of U.S. fiscal spending pushed Treasury yields and the dollar higher, pressuring emerging-market assets. South Africa's rand also slipped from one-year highs.

- Date: 2021-02-16 · published 2021-02-16T12:00:00.000Z
- Category: market · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/48918-emerging-markets-mexican-colombian-fx-leads-latam-losses-as-oil-rally-cools
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Softer oil prices weaken the currencies of crude exporters and reflect a firmer dollar, which can tighten financial conditions for emerging-market importers of feed ingredients. The move is routine FX commentary with limited direct effect on feed commodity prices.

## Read by commodity

- WTI: bearish ▼
- USDCOP: bullish ▲
- USDMXN: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2021/emerging-markets-mexican-colombian-fx-leads-latam-losses-as-oil-rally-cools/

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