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Goldman Sachs named the Mexican peso its top emerging-market currency pick for when the coronavirus crisis eases, ahead of the South African rand and Russian ruble. Goldman said USD/MXN remained more than 10% above its pre-pandemic level of about 19.
Standard Chartered and Rabobank also forecast further peso gains through year-end.
Forecasts of a stronger peso would lower the local cost of dollar-priced feed imports for Mexican buyers over the coming months. The outlook is a forecast rather than a current supply or demand change.
forbesmiddleeast.comCherry Aisne Trinidad, Vidhi Choudhary, Jamila Gandhi, Sergei Klebnikov, Nermeen AbbasSep 25, 2020Not 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.
