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Mexican Peso Will Bounce Back After Election Selloff, Top Forecaster Predicts

From bnnbloomberg.ca

Mexico’s peso will likely bounce back to 17 per dollar in the next few months after a surprise result in the election caused it to slide nearly 5% in two days, said one of the currency’s top forecasters. The selloff that followed Sunday’s Mexico election may be overdone, as the factors that’s made the peso one of the most attractive currency trades still remain, according to Bartosz Sawicki, market analyst at Polish brokerage Cinkciarz.pl, also known globally as Conotoxia. The world’s best-performing major currency up until late May, the peso has led global losses this week after Claudia Sheinbaum and her party won a ... (full story)

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  • Category: Fundamental Analysis