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Neutral stance on the Mexican peso – BAML

FXStreet (Edinburgh) - The perspective for the Mexican currency remains neutral, suggested BofA Merrill Lynch Global Research.

Key Quotes

“We stay neutral on the Mexican peso”.

“The secular strengthening trend of the US dollar will continue, in our view”.

“However, MXN is likely to outperform other emerging market currencies given its greater linkages with the US economy and better domestic fundamentals”.

“The exchange rate is around 4% undervalued according to our currency valuation model”.

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