Major decision in Mexico drops the Peso; expect selling
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Major decision in Mexico drops the Peso; expect selling
The authorities cut the Mexican Peso "Hedge"
The Mexican Peso Hedge is Over but it could just flag and oscillate at highs for some time considering that peaks on interest rates will be very rounded.
However, trading Mexican Peso futures has been lucrative when things slow down in equities, like in $SPY, the contract /6M usually amps up, allowing the contract holder to rake in on a bullish bias from long term cycles underpinning the instrument’s value.
Expecting to see continued selling in the futures contract this week.
EDIT: SEPTEMBER 5TH 1607 CST
The Peso has further weakened to start the week.
1200CST Wednesday update:
Major decision in Mexico drops the Peso; expect selling
1200 CST Wednesday... futures rolling over today.