{
  "id": 10912856,
  "title": "Mexican Peso: Carry trade unwind risks into Q4 – Societe Generale",
  "url": "https://urgent.news/2026/09/30/mexican-peso-carry-trade-unwind-risks-into-q4-societe-generale",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T09:38:27.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/mexican-peso-carry-trade-unwind-risks-into-q4-societe-generale-202609300938"
  },
  "original_language": "en",
  "account": "Societe Generale's Kenneth Broux has cautioned that one of the key themes for emerging markets in September has been a significant unwinding of carry trades, especially in the Mexican Peso, which has decreased by 6% against the Dollar this month. As the month concludes, the Mexican Peso's decline against the Dollar stands at 6%, while the total return basis shows a drop of 5.2%. The peso's downward trend may continue into the fourth quarter, contingent on the movements in the UST yields, oil prices, and the implications of the US mid-term election results on fiscal policy. The South African Rand (ZAR) is currently at a crucial point, near the 200-day moving average at 16.38, following a rebound from sub-16.00 levels after disregarding the 25 basis points rate hike by the SARB. A reversal in the US long, in the fourth quarter, coupled with a recovery in the Yen, could intensify the currency's corrective trajectory, potentially affecting financial instruments like the Mexican Peso and ZAR.",
  "summary": "Societe Generale’s Kenneth Broux warns that one defining September theme in EM has been a sharp unwind in carry trades, particularly in the Mexican Peso, which is down 6% on spot this month.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "USD/JPY: Intervention fears steer Yen strength – Societe Generale",
        "url": "https://urgent.news/2026/09/30/usd-jpy-intervention-fears-steer-yen-strength-societe-generale",
        "published": "2026-09-30T10:35:45.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}