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Mexico Peso’s Expected Fall To Be Broken By Favourable Rate Spread

Published by: dailynews
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An expected fall in Mexico’s peso will likely be cushioned by its favorable interest rate spread, although there is a wide range of views on the currency’s prospects over the coming year, a Reuters poll of foreign exchange strategists showed.

This week the peso extended a winning run that started in the fourth quarter, reaching its highest levels in more than seven years after the central bank signalled it would have to stay on hold for longer to bring down inflation.

The median estimate of 19 FX specialists polled June 1-6 for the peso’s value in 12 months was 18.60 per U.S. dollar, implying a 6.5% loss from 17.39 on Tuesday, but still a strong forecast and 3.5% firmer than last month’s one-year call.

Read the full story on Reuters here.