Mexico’s Super Peso Clocks Longest Winning Streak Since 2008
The Mexican peso has been on a winning streak, clocking its longest rally since 2008. The currency has been buoyed by a combination of factors, including a surge in foreign investment, a strong economic recovery, and a surge in oil prices.
Foreign Investment
Foreign investors have been pouring money into Mexico, attracted by the country’s strong economic growth and the potential for further gains. The Mexican economy is expected to grow by 4.5% this year, and the government has implemented a series of reforms to attract foreign investment.
The government has also implemented a series of tax cuts and incentives to attract foreign investors. These measures have helped to attract more than $20 billion in foreign direct investment in the first half of the year.
Strong Economic Recovery
The Mexican economy has been on a strong recovery path since the start of the year. The economy has been buoyed by a surge in oil prices, which has helped to boost the country’s exports.
The government has also implemented a series of reforms to boost economic growth. These include a new labor law, which has made it easier for companies to hire and fire workers, and a new tax reform, which has reduced the corporate tax rate from 30% to 25%.
Surge in Oil Prices
The surge in oil prices has been a major factor in the peso’s rally. Oil prices have been rising steadily since the start of the year, and are now at their highest level since 2014.
The surge in oil prices has been driven by a combination of factors, including strong demand from China, a weaker US dollar, and OPEC production cuts. The higher oil prices have helped to boost the Mexican economy, as the country is a major oil exporter.
Outlook
The outlook for the Mexican peso remains positive. The currency is expected to continue to benefit from strong foreign investment, a strong economic recovery, and a surge in oil prices.
The government is also expected to continue to implement reforms to attract foreign investment and boost economic growth. These measures should help to support the peso in the long term.
Overall, the Mexican peso has been on a strong winning streak, and is expected to remain so in the coming months. The currency has been buoyed by a combination of factors, and is expected to continue to benefit from strong foreign investment, a strong economic recovery, and a surge in oil prices.