The Bear Who Beat Brexit Has a New Warning for the Peso

Updated on
  • Caudillo used technical analysis to call post-Brexit peso drop
  • Monex strategist now sees currency falling to 21 per dollar

On June 23, as Mexico’s peso was in the middle of its longest rally in two years while U.K. voters looked poised to reject a so-called Brexit, currency strategist Juan Francisco Caudillo took his peers by surprise. He told his clients to sell the peso.

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