Traders Bet for Mexican Peso Defying Wall Street’s Bearish Call
- Asset managers boosted net-long peso bets near 10-month high
- Peso hovers near eight-year high at around 17-per-dollar level
Asset managers boosted bullish bets on the Mexican peso to the highest since April, defying some of Wall Street’s top banks pessimistic calls for the currency this year.
Investors raised net-long contracts on the peso to 156,624, the highest in almost 10 months, according to data from the US from the Commodity Futures Trading Commission as of Feb. 13. Though the Mexican currency has weakened 0.5% this year versus the dollar, it’s still hovering near an eight-year high of 17 per dollar.