# The Mexican peso loses 24 cents against the dollar - Opportimes

> The peso closed down 1.09%, or 24 cents, at about 22.17 per dollar on Thursday, after Jerome Powell announced a shift to average-inflation targeting at Jackson Hole. The market read the message as accommodative and a sign that rates will stay low for a long time.

- Date: 2020-08-27 · published 2020-08-27T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/51833-the-mexican-peso-loses-24-cents-against-the-dollar-opportimes
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Low US rates and a softer dollar tend to support commodity prices, while peso weakness raises Mexican import costs for feed ingredients. The effect on grain markets is indirect.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-08-30 | [China Sets Yuan Midpoint Against Dollar at One-Year High   - Caixin Global](https://feedsoft.ai/events/10857-china-sets-yuan-midpoint-against-dollar-at-one-year-high-caixin-global.md) | -0.6% | +0.9% |
| DXY | 2017-08-30 | [Renminbi rises strongly against US dollar - Chinadaily.com.cn](https://feedsoft.ai/events/10861-renminbi-rises-strongly-against-us-dollar-chinadaily-com-cn.md) | -0.6% | +0.9% |
| DXY | 2018-02-01 | [U.S. Trade Policy & the Dollar](https://feedsoft.ai/events/12006-u-s-trade-policy-and-the-dollar.md) | +0.9% | +1.7% |
| DXY | 2018-06-22 | [Oil rallies over 3% as dollar dips, OPEC's meeting proceeds](https://feedsoft.ai/events/11574-oil-rallies-over-3-as-dollar-dips-opec-s-meeting-proceeds.md) | +0.2% | -0.3% |
| DXY | 2020-03-24 | [How the U.S. could intervene to weaken its surging dollar By Reuters](https://feedsoft.ai/events/6589-how-the-u-s-could-intervene-to-weaken-its-surging-dollar-by-reuters.md) | -2.3% | -2.4% |

## Sources

- opportimes.com: https://www.opportimes.com/en/the-peso-loses-24-cents-against-the-dollar/

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