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The Mexican peso gained 0.3% on the final trading day of 2020 after Foreign Minister Ebrard said authorization of the AstraZeneca/Oxford vaccine was imminent. The peso was still on track for a 5% annual loss, its worst year since 2016, as crude oil fell about a fifth in 2020.
MSCI's LatAm currency and stock index fell 13% to 15% for the year.
Weak oil prices and fiscal concerns weighed on the peso over the year, which raises the cost of dollar-priced feed imports for Mexico. The day's move is routine and has little direct effect on grain markets.
brecorder.comReutersDec 31, 2020Not 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.
