# USD/MXN heads for lowest close in a month, around key 18.70 — Elev8

> The Mexican peso rose against the US dollar on Friday, pushing USD/MXN toward its lowest close in a month near the 18.70 support level. The move came despite another Federal Reserve rate hike, with support from emerging-market currency strength and higher crude oil prices. Markets also reacted positively to news that economist Johnathan Heath would be nominated as Banxico deputy governor.

- Date: 2018-09-28 · published 2018-09-28T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/63255-usd-mxn-heads-for-lowest-close-in-a-month-around-key-18-70-elev8
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A firmer peso reduces the local-currency cost of imported US feed ingredients for Mexican buyers, while the dollar-related moves affect export competitiveness for US grain and meal. Higher crude prices also support feed-related energy and freight costs.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- elev8.com: https://www.elev8.com/markets/news/view/618127/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.