The world’s best currency rally is set to peter out as Mexico’s central bank begins to cut interest rates, according to the currency’s most-accurate forecaster. Mexico’s peso is up almost 10% in the past 12 months, by far the best performance among 16 major currencies tracked by Bloomberg. It recently touched the highest since 2015, and has defied bearish calls from Bank of America to Morgan Stanley. Funds and asset managers have boosted their bullish bets to the highest level in at least a year, according to derivatives data from the Commodity Futures Trading Commission. All that has left the peso overvalued, with ... (full story)