🐍🦅Mexican Peso Posts Best Year On Record: Cable FX Macro

• 2023 is set to be the Mexican peso’s best year on record vs the U.S. dollar as it gained nearly 15.0% or 2.5BF. The MXN will close a second consecutive year of gains

• Throughout the year, USD/MXN traded heavy while some consolidation was seen into August. A pullback was reversed into November and the spot will close this year below 17.00

• In the EMFX space, the Mexican peso stood as second best, the Colombian peso led gains at +25.9%. Only COP, MXN, and the PLN finished the year with double digit gains