Economics
Mexico Peso's Top Forecaster Sees Rally for Worst Major Currency
- Mizuho's Harajli most accurately predicted peso level for 2015
- Country's close trade ties with U.S. provide economic support
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Mexico’s peso, the worst performing major currency in 2016, is poised for a rebound by the end of this year, according to its most-accurate forecaster.
Its 30 percent depreciation in the past year and a half is making the economy more competitive for manufacturers looking for lower costs, and that should help fuel growth that eventually reverses some of the losses, according to Sireen Harajli, a strategist for Mizuho Bank Ltd. who was the best analyst for the peso in the fourth quarter, according to a Bloomberg ranking.