# USD/MXN reverses sharply and rises back above 19.00 - Forex Crunch

> The US dollar rose sharply on August 28, 2018 against Latin American and Turkish currencies, and USD/MXN rebounded about 2% to above 19.00 after dipping to 18.70. Higher US yields and political uncertainty in Brazil were cited as drivers. The peso did not hold the gains from the trade deal announcement.

- Date: 2018-08-28 · published 2018-08-28T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/63759-usd-mxn-reverses-sharply-and-rises-back-above-19-00-forex-crunch
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker peso raises Mexico's cost of dollar-denominated US feed and grain imports, which can dampen demand. The broad dollar rally across emerging markets adds to pressure on import-dependent buyers.

## Read by commodity

- DXY: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [Octa — USD/MXN jumps back above 19.20 on risk aversion](https://feedsoft.ai/events/56790-octa-usd-mxn-jumps-back-above-19-20-on-risk-aversion.md) | -0.1% | +0.8% |
| DXY | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | +0.7% | +1.9% |
| DXY | 2019-09-23 | [USD repo moves: Impact on AUD - ANZ - Forex Crunch](https://feedsoft.ai/events/57335-usd-repo-moves-impact-on-aud-anz-forex-crunch.md) | +0.5% | -1.0% |
| DXY | 2019-12-04 | [USD: Risk Of A USD Spike Into Year-End On A Sharp Rise In Net USD Demand - Citi - Forex Crunch](https://feedsoft.ai/events/55757-usd-risk-of-a-usd-spike-into-year-end-on-a-sharp-rise-in-net-usd-demand-citi.md) | -0.5% | -1.6% |
| DXY | 2020-08-27 | [Mexican Peso Price Analysis: USD/MXN rebounds sharply from two-month lows, outlook turns bullish - Forex Crunch](https://feedsoft.ai/events/51832-mexican-peso-price-analysis-usd-mxn-rebounds-sharply-from-two-month-lows.md) | -0.5% | +0.8% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2018/08/28/usd-mxn-reverses-sharply-and-rises-back-above-19-00/

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