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Thursday, December 08, 2005

Peso Fiesta!

Currency futures traders have started to look south of the border for good trading opportunities in Mexican Peso futures. The market has exhibited a strong up-trend since early November, once prices broke out of a 3-month-long consolidation phase. Much of the recent strength in the Peso is tied to high oil prices, with Mexico being a large supplier of crude to the U.S. However, the strong Peso has a dark side for the Mexican economy, as it makes exports to the U.S. more expensive-especially for automobiles-which raises fears of losses for manufactures as exports decline.
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