Mexican Peso: Carry and value support Peso – TD Securities
TD Securities views the Mexican Peso (MXN) favourably, noting supportive carry and value metrics and cleaner positioning.
TD Securities assesses the Mexican Peso (MXN) favorably, highlighting positive carry and value indicators and a cleaner market positioning. Despite a global risk-averse sentiment, they anticipate USD/MXN to dip back towards the 18.00 level by the year-end, aligning with their projection that the pair will hover around 18.00–18.40 in 2027 before gradually appreciating to 19.00 by 2028.
Strong carry and value metrics make the MXN more appealing. With the USDMXN showing a rising affinity to relative equity performance over the past year and clean positioning, TD Securities remains convinced that the USDMXN could revert to 18.00 by the end of the year, even as the world grapples with equity risk-off.
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