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USD/MXN fell more than 2% from its weekly high, dropping below 19.00 after reaching 19.37 on Wednesday. The move followed a broad dollar slide against Latin American currencies and some optimism around the fifth round of NAFTA negotiations.
Mexican officials proposed reviewing the agreement every five years while keeping it intact.
A firmer peso reduces the cost of dollar-priced grain and oilseed imports for Mexican feed mills. Progress on NAFTA would support continued US feed grain and meal exports to Mexico.
octaafrica.netNov 17, 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.
