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The USD/MXN pair rose to 20.0850 on August 27, its highest since December, as the peso weakened on a rise in Mexico's unemployment rate to 3.7% and a trade deficit. Risk-off flows followed a sharp drop in US Treasury yields, including an inversion of the 30-year and 3-month yield curve.
Peso weakness raises the local-currency cost of imported feed for Mexican buyers and can encourage cheaper dollar-priced purchases. The article is about currency moves, so its direct effect on feed grain prices is limited.
forexcrunch.comFX StreetAug 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.
