Mexican Peso's Top Analyst Says Worst Is Over Even If Nafta Dies
- Peso won’t return to record low seen in January, Petruska says
- Forecaster sees currency gaining 2.8% by end of next year
Why It's Time to Invest in Mexico Again
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Mexico’s peso won’t return to the record lows it reached this year even if the U.S. makes good on threats to undo the trade agreement that transformed Latin America’s second-largest economy into an export powerhouse, according to the currency’s top forecaster.
The selloff that sent the peso plunging to 22 per dollar in the days before Donald Trump’s inauguration was overdone despite the threat to Nafta, said Scott Petruska, a foreign-exchange adviser for Silicon Valley Bank who was the most accurate analyst in the first quarter according to Bloomberg rankings. He correctly predicted that the currency would recover from the rout to become one of the best performers in the world this year.