Mexico peso to navigate between firm economy and political doubts: Reuters poll

Subject of emergency alert message arrested - May 2, 2024 | SaltWire #dartmouth #update #suspectBUENOS AIRES - Mexico's peso is set to navigate between a relatively firm economy on one side and some political doubts on the other, with a small depreciation expected in the medium-term, a Reuters poll of foreign exchange experts showed.

"The MXN has underperformed amid a carry unwind, but fundamentals have not changed and Mexico should be the biggest beneficiary in emerging markets of U.S. exceptionalism," said Erick Martinez, Latam FX and rates strategist at Barclays. While the country's central bank lowered its benchmark rate in March by 25 basis points to 11%, the governing board will likely hold it there for longer than markets expect, a key policymaker told Reuters last month.

Source: Financial Digest (financialdigest.net)

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