Macroeconomic Forecast Mexico

November 2007 | Macroeconomic Forecasts

BMI View: The Mexican peso is riding high on the back of the US Fed 's quarter-point cut and Banxico 's latest inflation report, which maintains a decidedly hawkish bias. As we had suggested would occur, the currency successfully managed to break through key resistance of MXN10.70/US$ on October 31 (a level that it had respected on three previous occasions since March 2006) registering an 18-month high of MXN10.65/US$.

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