The Mexican Peso surged back below 20/$ this morning after new Commerce Secretary Wilbur Ross comments on the potential for peso recovery in a "sensible" NAFTA deal. Along with comments on Germany and Euro weakness, Ross also sent the USD index markedly lower (after 5 straight days higher).
Ross said...
And the peso ripped...MORE“The peso has fallen a lot mainly because of the fear of what will happen with Nafta. I believe that if we and the Mexicans make a very sensible trade agreement, the Mexican peso will recover quite a lot,"
