Chart of the Day — Mexican Peso

 

A major devaluation in the Peso (increase in USD/MXN) is in progress

As predicted by the Factor Service on Dec. 2 (Hasta la vista, peso mexicano), as well as by analysis dating back to Dec. 2013, the Peso has begun a significant period of depreciation against the U.S. Dollar, as reflected by a higher USD/MXN bank rate. The chart below depicts the number of Pesos per U.S. Dollar. The Factor is forecasting a move by USD/MXN to at least 17.5 in the months ahead with an eventual target of 20.0.

12.12_USDMXN

Hasta la vista, peso mexicano

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