Mexican Peso Drops, Some Investors Remain Bullish

The Mexican peso fell today against the US dollar but some investors remain very bullish on the currency, hoping that the growth of the US economy will benefit the peso.

Despite the drop of the peso, there are hopes that recovery in the United States, Mexico’s major trading partner, will benefit the Mexican economy and its currency. Prospects for economic reforms in Mexico also provide support for the peso. While the Mexican currency remains vulnerable to various events that hurt currencies of emerging markets, analysts think that the close economic ties of Mexico and the United States will help the peso to outperform its risky growth-related peers like the Australian and the Canadian dollars.

USD/MXN rose from 15.3540 to 15.3672 as of 11:10 GMT today.

If you have any questions, comments or opinions regarding the Mexican Peso,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *