Experts have been warning about the sustainability of the Mexican peso’s strength. Although prices are widely expected to go down as the safe-haven appeal of the US dollar continues to fade due to the good news from coronavirus vaccine news. The Mexican peso is also gathering strength from the positivity in the global equity market and is harnessing strength from the renewed positivity. However, there are headwinds ahead for the Mexican peso after Mexican finance minister Arturo Herrera said that the country might need to have adjustments of changes in its fiscal plans. This is all due to the disruptions brought by the coronavirus pandemic to the economy. According to Herrera, how the Mexican economy will recover will very much depend on how the pandemic evolves and if a vaccine finally arrives in the market. Of course, a vaccine isn’t expected to be produced anytime within this month of next month, it still pressured the peso.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.