# Mexican Peso: Banxico cut leaves Peso vulnerable – ING

> 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.

- Date: 2026-11-06 · published 2026-11-06T15:10:31.660Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/84150-mexican-peso-banxico-cut-leaves-peso-vulnerable-ing
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-banxico-cut-leaves-peso-vulnerable-ing-202611061347

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