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ING analysis says the Mexican peso has recovered from its post-election slump, supported by stronger-than-expected GDP growth and high interest rates. It warns that a drop in risk appetite is the main short-term threat, given heavy reliance on foreign inflows and large speculative long-peso positions.
The peso is seen as among the most vulnerable emerging-market currencies if investors turn risk-averse.
A stronger peso supports Mexican purchasing power for US feed imports, while a sharp reversal would make grains and meal more expensive for Mexican buyers. The outlook is a currency driver with limited direct effect on feed prices.
think.ing.comAug 9, 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.
