# USD/MXN rises for the first time in twelve days, remains bearish but above 22.00 — Octa

> The Mexican peso weakened against the US dollar on Wednesday, ending a seven-day winning streak, with USD/MXN rising from 22.13 to 22.48 before settling near 22.30. Banxico's quarterly report projected 2020 GDP contraction of 4.6% and a 4.1% rebound in 2021, and raised its Q4 inflation forecast to 3.5%.

- Date: 2020-05-27 · published 2020-05-27T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/53339-usd-mxn-rises-for-the-first-time-in-twelve-days-remains-bearish-but-above-22-00
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A weaker peso against the dollar trims the cost of Mexican-denominated purchases of feed ingredients and may modestly support Mexican import demand; the mostly macro-driven move has limited direct grain price impact.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/824246/

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