# USD/MXN: Peso consolidates near 1-month lows despite Banxico rate hike — Octa

> The USD/MXN pair traded near 19.12 after Banxico raised its key rate by 25 basis points to 7.25%. The new central bank governor warned that the proposed US tax reform could hurt the peso. Technical analysis points to upside risk toward the 19.30 resistance level.

- Date: 2017-12-15 · published 2017-12-15T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/67707-usd-mxn-peso-consolidates-near-1-month-lows-despite-banxico-rate-hike-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Mexico's rate hike supports the peso in the short term, but further weakness would raise the cost of imported feed inputs priced in dollars.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/522511/

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