Mexican Peso Soars To Highest Level Since Trump Election After Banxico Adopts $20 Billion Hedge

At the start of January, when the Mexican Central Bank spent $2 billion to defend its currency in a rare intervention in the spot market, and which lasted just a few hours before the selling resumed, Goldman analyst Albert Ramos had some advice for Banxico: don’t use reserves to defend the Peso as Mexico would have greater need for them elsewhere.

This post was published at Zero Hedge on Feb 21, 2017.

 

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