Mexican Peso Near the Peak of Its Power. Beware Aggressive Turn!
For a long time, I maintained a scenario for the Mexican Peso that envisioned a bounce down all the way down to the mid-16s a view that seemed less than likely a few years ago with the Dollar hitting an all-time high at nearly 26 pesos per unit. Sadly I didn't hold strong enough conviction on the move happening to see it all way through, throwing the towel just in time to be on the sidelines for some of the most aggressive drops of the year.
Having said all that, We can start to see some signs of exhaustion on this slide down, and if yes this sudden collapse came somewhat as a surprise if my expectations turn out to play out similar to what I am envisaging, we could see all the advance made by the Mexican currency effectively wiped out by a solid surging dollar in the latter half of this year and the year to come.
Having said all that, We can start to see some signs of exhaustion on this slide down, and if yes this sudden collapse came somewhat as a surprise if my expectations turn out to play out similar to what I am envisaging, we could see all the advance made by the Mexican currency effectively wiped out by a solid surging dollar in the latter half of this year and the year to come.
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