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USD/MXN fell toward 19.00 as the Mexican peso rose for an eighth straight day against the dollar, with the pair down for a third consecutive week. Improved risk sentiment and a weaker dollar drove the move, and the pair was trading at 19.13.
Analysts at CIBC kept a 19.9 year-end forecast and expected Banxico to cut rates in November and December.
A stronger peso lowers the peso cost of imported feed ingredients for Mexican buyers, and expected Banxico easing could weigh on the currency later.
octaafrica.netOct 18, 2019Not 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.
