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USD/MXN dropped to 22.00 on Friday, a two-month low, before rebounding to around 22.25 as US-China tensions escalated. The peso was the best-performing major currency in May, gaining about 8% against the dollar for the month.
A stronger peso lowers the peso cost of US feed and grain exports to Mexico only modestly, and the move is driven by general currency sentiment rather than a grain-specific event.
forexcrunch.comFX StreetMay 29, 2020
octaafrica.netMay 29, 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.
