# USD/MXN hovering around 20.50 ahead of Banxico’s decision — Octa

> The Mexican peso was steady around 20.50 per U.S. dollar on November 12, 2020, after rebounding from a low of 20.00 earlier in the week. Markets were awaiting a Banxico decision, with most analysts expecting a 25 basis point rate cut.

- Date: 2020-11-12 · published 2020-11-12T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/50375-usd-mxn-hovering-around-20-50-ahead-of-banxico-s-decision-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A firmer peso lowers the cost of U.S. feed imports priced in pesos, which supports Mexican demand for U.S. corn and meal. A Banxico cut would add downward pressure on the peso and could support import demand.

## Read by commodity

- USDMXN: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/862972/

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