jueves, 8 de mayo de 2014

A stronger peso...

The average monthly fix rate peso fell below $13.00 for the first time since last August with today's setting. Granted, May's $12.99 average is based on only five working days and there are 16 left to go in the month.

Still, it seems that the peso is recovering nicely from the aversion to emerging market currencies induced by the Fed's tapering announcement. The average monthly fix rate has appreciated since February. The spread between the minimum and maximum fix rate during the month has fallen dramatically. And, this month's maximum fix rate is the lowest it's been since May 2013, when then Fed Chairman Bernanke announced that, one day, the Fed would begin to reduce its monthly asset purchases.  

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