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USD/MXN climbed back above 18.80 to a two-day high of 18.86 on January 30, erasing weekly peso gains amid coronavirus-driven risk aversion hitting emerging market currencies. The US economy grew 2.1% annualized in Q4 2019 while Mexico stagnated, and Banxico's key rate stands at 7.25%.
Risk-off moves that weaken the peso raise the local-currency cost of imported feed ingredients for Mexican buyers, though the move is a routine currency fluctuation.
forexcrunch.comFX StreetJan 30, 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.
