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JPMorgan says the peso is its top emerging-market overweight, having appreciated 19% against the dollar over the past 24 months. The bank recommends hedging against US election volatility with a USD/MXN digital call strategy at 18.50.
It flags risks from a more contentious US trade approach toward Mexico, including tariff evasion through Mexico.
Trade friction between the US and Mexico could affect Mexican feed and meat trade flows and the peso. The recommendation is a positioning view and does not itself move supply or prices.
barchart.comQuiver QuantitativeMay 23, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
