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The Mexican peso rose for a third straight week against the US dollar, with USD/MXN falling to 19.60, its lowest intraday level since November 7. The pair had dropped about 4.5% from its early-December peak.
Analysts cited the Mexican 2018 budget, a Banxico rate hike and a recovery in Mexican bonds as supports.
A stronger peso lowers the local-currency cost of imported feed ingredients for Mexican buyers, which can ease pressure on feed margins even as dollar-denominated grain prices are unchanged.
octaafrica.netDec 28, 2018Not 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.
