MXN: Short Term Strength To Give Way To Long Term Depreciation

• Fitch is neutral on the Mexican peso (MXN) over the short term, but expects the unit will depreciate over the long term.
• The forecast for the unit was revised for 2020 to an average of MXN19.16/USD, from MXN20.05/USD previously, amid a relaxation of global trade tensions.
• Risks to the view are weighted to the downside, given the potential for deterioration in relations with the US or a downturn in the global economy.

(Source: Fitch)