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World’s Best Currency Is on a Tear and Poised for More Gains
The Mexican peso is trouncing its global peers this quarter and analysts at Standard Chartered and Rabobank say the currency is poised to extend its rally through the end of the year. Since the end of June, the peso has appreciated almost 10% against the dollar, the best performance among about 140 currencies tracked by Bloomberg. The peso has also delivered the No.1 carry trade -- the gains made by borrowing dollars and buying short-term peso-denominated securities -- a reward for investors with the stomach to go in after a precipitous 18% selloff in the first half of 2020. The peso jumped in recent months amid a ... (full story)