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The Mexican peso has been a top-performing currency since the start of 2019, supported by carry trades and falling volatility across emerging markets. TDS strategists warn that speculative positioning in MXN has reached record long levels, leaving the currency vulnerable to a squeeze from global or Mexico-specific factors.
A stronger peso raises the cost of Mexican-bound feed and meat exports in dollar terms and can weigh on Mexican import demand for US grain and meal; a positioning-driven reversal could move the rate sharply.
octaafrica.netMar 22, 2019Not 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.
