Mexico’s ‘Super Peso’ Shocks Traders Who Had Bet on Wipeout
- Mexico is benefitting as factories ‘nearshore’ from China
- It’s the beginning of a turnaround from two decades ago
Mexican peso banknotes.
Photographer: Mauricio Palos/BloombergThis article is for subscribers only.
Amid the carnage in emerging-market currencies this year, there’s been a surprisingly resilient outlier: the Mexican peso.
It’s held up as almost every peer succumbed to the dollar’s relentless push higher, an outperformance so stark that a few analysts have taken to calling it the “super peso.”