Tag: Mexico

Mexico

Mexican Peso Drops to New Low Against the US Dollar

The Mexican peso dropped to a new low against the US dollar on Wednesday, in anticipation of the policies likely to be pursued under a Trump administration in the US.

MXN fell more than 2% against the USD, hitting 21.619, breaking the previous record low of 21.3952 that was set three days after Trump’s election victory on November 8.

As part of Trump’s election campaign, he has called for an overhaul of the North American Free Trade Agreement (NAFTA) and subsequently USD/MXN was often watched as a proxy on the election result during the presidential campaign and could be seen to fluctuate around the highly publicised presidential debates.

Edgewater Targets LatAm Growth with Matching Engine Launch

Edgewater Markets is expanding its LatAm business with the launch of a local matching engine in Mexico City.

The deployment of the server in the KIO-5 data centre in Mexico, which recently went live in Q3 2016, enables customers to cross connect directly to Edgewater’s local environment. It will support a range of currency pairs, with a strong focus on MXN crosses.

“We are constantly looking for ways to grow our business and to penetrate into new areas of the market and we identified order management as a gap in our offering. We have clients aggressing rates on our platform very actively, but we were lacking on order capability.

Mexican Peso May Lag Peers: Survey

The Mexican peso is expected to underperform most of its peers in the emerging markets, according to a survey of FX corporate and sales executives, traders and strategists attending Bloomberg’s FX16 Symposium found. Out of more than 120 respondents, some 57% said that “the peso (MXN) will continue to lag against its emerging market counterparts […]