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USD/MXN rose to 19.04 on Wednesday, its highest since April 8, before easing back near 19.00. The move came from broad US dollar strength against emerging-market currencies, while mid-April Mexican CPI rose 4.38% year on year, above the 4.20-4.25% consensus.
Higher inflation reduced expectations that Banxico would soon cut its 8.25% key rate.
A firmer dollar and sticky Mexican inflation keep the peso under pressure and push back rate cuts, which tends to raise the dollar cost of US feed exports to Mexico at the margin.
forexcrunch.comFX StreetApr 24, 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.
