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The USD/MXN rose to a six-day high of 19.32 as the US dollar strengthened against most emerging-market currencies. Minutes from Banxico's latest meeting flagged risks from Pemex's financial fragility and a possible further credit downgrade.
A stronger dollar and a weaker peso raise the peso cost of imported feed ingredients for Mexican buyers. The Pemex risk adds to pressure on the peso, but the move is a currency-driven shift rather than a supply change.
octaafrica.netFeb 21, 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.
