Bank of America withdraws Mexican peso-Brazilian real decline bet recommendation due to Mexico's slower concerns and Brazil's volatile politics.
Bank of America has ended its recommendation for investors to bet on a decline in the Mexican peso against the Brazilian real. Concerns about Mexico, the US's southern neighbor, have not materialized as quickly as expected, while more volatile politics in Brazil have also contributed. The Mexican peso has strengthened over 3% against the US dollar since the bank's initial recommendation on November 17.
April 12, 2024
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