Mexican Peso: Activity in Mexican peso set to soar
CURRENCY FOCUS
"Towards year-end, we will have a better idea on who will be opposing [Vicente] Fox as well what the monetary policy will look like," says a strategist at a German bank in New York. "At this point there will be more trading on dollar/peso than we have right now." The strategist added that trading volumes will drop just before the poll because of the uncertainty surrounding Fox’s future. "If he stays in power, you are faced with more uncertainties. First, he does not have a majority in congress
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