# USD/MXN: Mexican peso rally ends abruptly, worst performer of the week — Octa

> The Mexican peso ended the week as the worst performer among major currencies, with USD/MXN rising almost 3% in two days to 18.68 after briefly falling below 18.00. The drop followed profit-taking and new polls showing leftist candidate Andres Manuel Lopez Obrador more than 20 points ahead ahead of the July 1 presidential election. A stronger US dollar also contributed to the move.

- Date: 2018-04-20 · published 2018-04-20T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/65732-usd-mxn-mexican-peso-rally-ends-abruptly-worst-performer-of-the-week-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A weaker peso makes US feed grains and meal more expensive for Mexican buyers in local currency, which can slow import demand. Bank of Mexico rate action to defend the currency could also affect Mexican livestock and feed-sector financing costs.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/561083/

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