Economists at CIBC Capital Markets expect the USD/MXN pair to inch higher for the rest of the year.We maintain our call for two 25 bps rate cuts in Q4. Moreover, we restate our upward USD/MXN bias for the rest of the year with a 19.00 forecast for Q3 and a 19.50 estimate by year-end 2023.
A deceleration in US growth coupled with our expectations of tighter MEX-US yield spreads remain the largest risks to MXN.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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