Loading…
ING analyst Chris Turner said Banxico’s surprise 3–2 decision to cut its policy rate to 6.25% narrowed the Banxico–Fed rate spread to 225 basis points, its lowest in decades. He said the central bank is prioritizing weak growth and a negative output gap, and argued that the peso is vulnerable to external risk, with USD/MXN above 19 more likely than not.
A narrower yield spread makes peso carry positions less attractive and could increase peso selling during periods of external risk. Further depreciation would raise the peso cost of imported feed ingredients.
fxstreet.comFXStreet Insights TeamNov 6, 2026Not 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.
