Loading…
Mexico's peso led gains across Latin American currencies on Monday, rising more than 1% as retail buying pushed silver to eight-year highs. Silver rose about 9%, and a rise in oil prices also supported the peso.
The peso had just recovered from its worst week in four months after Mexico's economy posted its worst slump since the 1930s.
A firmer peso lowers the local cost of US-priced feed ingredients for Mexican buyers, while the silver move is driven by retail speculation rather than a change in supply or demand for feed.
brecorder.comReutersFeb 1, 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.
