# Mexico's peso hits over 13-month high as Fed hike bets fade | Reuters

> The Mexican peso rose to its strongest level in over 13 months as traders scaled back bets on another Federal Reserve rate hike. Oil prices dipped after four weeks of gains on prospects of a ceasefire deal in Gaza.

- Date: 2017-06-16 · published 2017-06-16T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/70732-mexico-s-peso-hits-over-13-month-high-as-fed-hike-bets-fade-reuters
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stronger peso lowers the dollar cost of Mexican feed imports and reflects easing risk sentiment around Mexico. The move is currency-driven and has little direct effect on grain or meal prices.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/us-mexico-forex-idUSKBN1972M6/

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