Mexican Peso: Softer Carry but Relative Support – Rabobank

Rabobank strategists Molly Schwartz and Christian Lawrence published their latest Mexican Peso Market Musings, observing that the peso has strengthened against the US dollar year-to-date but has since softened.

The note highlights a shift in carry trade dynamics, describing the current environment as having "softer carry" yet still offering "relative support" for the Mexican currency. No specific levels or targets were provided in the summary.

This mixed outlook suggests near-term caution for USDMXN, with the peso's earlier gains fading amid changing interest rate differentials and broader market sentiment.