Mexico Peso’s Donald Trump Nightmare May Just Be Starting
- Some currency forecasters see significant declines to come
- Currency was world’s worst after vote, reaching record low
Mexican Peso Plummets as Trump Wins Election
This article is for subscribers only.
In the wake of Donald Trump’s upset presidential win, no currency tumbled as far or as fast as Mexico’s peso. Forecasters say the worst may be yet to come.
The peso tumbled for a second day Thursday, sinking 3.2 percent to 20.4964 per dollar at 1:59 p.m. in New York. Citigroup Inc. strategist Dirk Willer sees the peso falling another 7 percent to 22 per dollar by Dec. 31 after tumbling by the most in two decades Wednesday, according to his forecast before results came out. Barclays Plc strategist Andres Jaime predicts it will be at 21.5 in the coming months. Nomura Holdings Inc. has the gloomiest outlook, forecasting the peso will tumble 18 percent to 25 per dollar in the next six weeks.