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The USD/MXN pair climbed to its highest level since December at 20.2575 on August 29 before reversing and trading near 20.13. Broad dollar strength lifted the Dollar Index to 98.55, and Banxico minutes showed some board members saw growth risks tilted downward.
A firmer dollar against the peso raises the peso cost of imported feed ingredients for Mexican buyers, but the intraday reversal limits the pressure. The move is currency-driven and does not directly change grain or meal supply.
octaafrica.netAug 29, 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.
