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Mexican Peso: Carry and Valuation Provide Support – TD Securities
18.00 is the level TD Securities expects USD/MXN to approach again by year-end. The firm favours the Mexican Peso (MXN), citing supportive carry and valuation metrics alongside cleaner positioning. It expects the pair to fall despite global equity risk-off sentiment. Its forecast path puts USD/MXN around 18.00–18.40 in 2027, followed by a gradual rise to 19.00 by 2028.
MXN: Carry and Valuation Offer Support
"Carry and value are more supportive for MXN. Given USDMXN's increased correlation to relative equity performance over the past year and clean positioning, we continue to believe that USDMXN could retrace back to 18.00 into year-end, even amid a backdrop of global equity risk-off."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Learn more.)
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