EURO / MEXICAN PESOShort
Short EURMXN
TiiE swaps pricing 20% chance of july hike. inflation above 3% tgt, peso weakness further inducing inflationary pressure. latam CBs maintaining a hawkish bias (Brazil, Colombia, Peru), Mexico to follow. Spec positioning net short peso (emfx funding ccy).
Note: Hedge out EM weakness risk with tactical THB+NZD shorts.
Note: Hedge out EM weakness risk with tactical THB+NZD shorts.
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