‘Mexican Standoff’ – Goldman Asks: Was Last Week’s Peso Plunge A Buying Opportunity?

After treading water for the last two months around 17/USD (its strongest against the greenback since 2015), the Mexican Peso plunged last week after the Bank of Mexico’s announcement that it intends to gradually reduce is FX-hedging program, as the liquidity and depth of the FX market have returned to adequate levels.

Source: Bloomberg