USD/MXN to trade in the 16.40-18.11 range in the coming quarters – SocGen USDMXN Mexico Banks
We are constructive on the MXN and see the local swap curve bull steepening.
The MXN should continue to benefit from a soft USD, the Fed on pause, a friendly risk appetite setting, and easing UST yields. The local curve is likely to bear flatten as Banxico starts its easing cycle, the risk premium remains low in the near term and UST yields drop.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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