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Mexico's central bank will add $500 million to its dollar coverage contract auctions, bringing the program to $5 billion. The move follows a sharp peso sell-off after the US tax reform and mid-December inflation data, which pushed the exchange rate near 20 pesos per dollar.
The auctions will run in $250 million tranches starting January 25.
Central bank intervention may cap near-term peso weakness, but the currency remains under pressure, which keeps Mexican feed import costs elevated.
bnamericas.comDec 27, 2017Not 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.
