Royalty free photo
According to top financial forecasters and Bloomberg collaborators Eric Martin and Justin Villamil, the Mexican peso is expected to make a big comeback this year…
For all the concern that the U.S. might dump Nafta or that Mexico’s next president could upend economic policy, the peso is forecast to be the world’s best-performing major currency in the first half of 2018.
True, the expected gain is due in no small part to how much it sank at the end of last year.
The peso tumbled to a nine-month low against the dollar on Dec. 26, capping a four-month decline fueled by worries Donald Trump will pull out of the trade agreement with Mexico and Canada, and that Andres Manuel Lopez Obrador could win election in July.
The peso lost a third of its value during the past four years, when it was the worst performer among the world’s most-traded currencies.
Yet the forecast also reflects Mexico’s growth potential, stronger fiscal position and narrowing current account deficit, particularly as the year wears on, said Ernesto Revilla, who heads Latin America economics at Citigroup Inc. His bank expects the peso to rally more than 5 percent during the next six months to a year, and to reach 17 per dollar — 14 percent stronger — beyond a year, or in the “long term.”
Click here for full article on Bloomberg.
Source: Bloomberg
Comments
more recommended stories
‘Unacceptable’ if Mexicans subjected to medical abuse in U.S. custody, minister saysMEXICO CITY (Reuters) – Mexico is.
The Digital Tianguis Turistico Mexico 2020 starts Wednesday, September 23Digital Tianguis Turistico Mexico 2020: what.
Viva Aerobus launches new flight CDMX-ChetumalThe Governor of Quintana Roo, Carlos.
Motorcycle with 4 on board skids on Periférico, one baby injuredA woman and a baby were.
López Obrador to be held responsible for the case of a child who died of cancer.López Obrador was denounced for homicide.
Cementos Fortaleza inaugurates Progreso plantPROGRESO, YUCATAN (September 21, 2020)Elementia-owned Cementos.
8 thousand people visit the Progreso municipality on SundayAccording to the report, police officers.
Florida man fights off alligator by poking its eyesORT ST. LUCIE, Fla. — Mark.
Major cruise lines are about to resume sailings… But, are they coming to Progreso?The sailings are starting as two.
Contractors ‘Abandon’ Dos Bocas constructionMEXICO CITY (Reforma) – The American.
BUSQUE A UN MÉDICO
Leave a Comment