See further peso weakening, revise up the yen

Genevieve Signoret & Alejandro Carrión

Currencies

We now see a high likelihood that the risk asset (and emerging market currency) correction will last all of this third quarter.

We continue to see strong upward momentum for the dollar against the peso for the next three weeks. We do, however, expect the exchange rate to settle at around $1.00=MXN16.00 by the end of September and then start to sharply recover in October.

We revise down our projection for the USD/YEN for end Q3 (the end of September) to 124. The current risk asset correction is lasting longer than we expected and is boosting the yen accordingly.

tabla

Data compendium

Dollar = King 

image2

 We forecast $1.00=MXN 16.00 for September 30 image3

We forecast €1.00=US$ 1.06 by the end of September image4

We revise down our forecast for the dollar against the yen to $1.00=¥124 for the end of September  

image5

image7

image6

Comentarios: Deje su comentario.