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USD/MXN broke above 19.70 to its highest level since September 6, after trading in a tight range for hours. The peso was among the weakest performers of the past five days and the pair posted its best weekly gain in about a month.
Analysts pointed to a dovish Banxico dissent and a bearish peso outlook.
A weaker peso raises the cost of imported feed inputs in Mexico and can slow purchases of US corn and soymeal by Mexican buyers. The move is a currency market development with little direct effect on grain prices.
forexcrunch.comFX StreetSep 27, 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.
