"I'm Very Sad": Peso Collapse Triggers Despair At Mexican Border Towns
“When the Mexican peso gets a cold, Laredo sneezes,” Les Norton, head of the Downtown Merchants Association says.
Despite the fact that Banxico managed to take MXN shorts out into the alley and execute them earlier this month in an epic “franc moment,” the trend, so to speak, is not your friend here.
Mexico’s currency has taken a dramatic hit from the slump in crude. Like other EM FX pairs, the USDMXN hasn’t been the place to be over the past year (again, recent weakness notwithstanding).