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USD/MXN fell back below 18.00 and traded near 17.85, close to its 2017 low, as the US dollar weakened broadly. Crude oil's recovery also supported the peso, and the Mexican currency has gained about 15% year to date.
A firmer peso reduces the local-currency cost of imported US feed grains and meal for Mexican buyers. Its direction is driven by dollar weakness and oil, not by a change in feed supply.
octaafrica.netJun 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.
