# Mexican peso leads Latam FX higher as silver spikes - Markets - Business Recorder

> 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.

- Date: 2021-02-01 · published 2021-02-01T12:00:00.000Z
- Category: market · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/48939-mexican-peso-leads-latam-fx-higher-as-silver-spikes-markets-business-recorder
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40058666

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