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The Mexican peso held steady after Banxico kept its policy rate unchanged in a unanimous decision. USD/MXN traded near 18.17 after reaching 18.29, the highest in two months, before pulling back on broader US dollar weakness.
Banxico said it will watch the exchange market and the earthquake's impact on prices, and warned NAFTA talks have worsened the growth risk balance.
A firmer peso lowers the local-currency cost of imported feed ingredients for Mexican buyers, while a weaker peso raises it. The earthquake-related supply disruption and NAFTA uncertainty are the main risks to Mexican feed costs.
octaafrica.netSep 28, 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.
