Traders have found yet another use for shorting the Mexican peso -- as a hedge for the risk of a Brexit.
With the ballot on the U.K.’s membership in the European Union just a day away, the peso is the most in sync with the pound in almost a year. It tumbled when sterling fell in May as odds showed a higher chance Britons would vote to leave, before rallying alongside it for three of the past four days as polls showed the “Remain” campaign gaining steam.
