Peso getting hammered on USMCA noise
The USMCA drama is real but the market is pricing in a worst-case scenario too quickly. I'm not chasing the move.
The Peso is taking a beating today on rumours the USMCA trade deal might get scrapped. Everyone's piling into USD/MXN like it's a sure thing, but these trade politics are rarely as straightforward as the headlines make them out to be. I've seen this movie before — the noise fades, and the real negotiation starts.
That said, the dollar has momentum and the Peso is vulnerable right now. I'm not calling a top, but I also wouldn't be loading up here. Let the panic settle before you decide which way to lean.

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