Jan
15
Goldman Sachs Defies Mexican Peso Bears, Forecasts 13% Rally
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Risk of U.S. protectionism priced to ‘significant’ extent: GS
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Peso is the worst performer among 16 major currencies in 2017
Against the most “Trumpian” of odds, Goldman Sachs Group Inc. is defying bearish bets and predicting Mexico’s peso will make a comeback this year.
The worst performer among the world’s 16 major currencies so far in 2017 will rally 13 percent to 19 per dollar over the next 12 months on the view that the protectionist impact of the new U.S. administration will be less severe than the rhetoric of President-elect Donald Trump. The currency touched a record low of 22.04 per dollar this week after he reiterated during a press conference that Mexico would be paying for a border wall and that companies that relocate operations there would have to pay a border tax…
Goldman Sachs Defies Mexican Peso Bears, Forecasts 13% Rally
