The graph below shows Mexican peso relative strength vs a selected list of EM and G10 peers in % appreciation terms, 1-year history
Looking at past 12 months, the MXN has posted gains vs all of its regional peers and a G10FX selected list
Most of the MXN advance has been recorded vs the Colombian peso and the Japanese yen, the former has lost almost 50% of its value to the Mexican peso over the last year
The most resilient currencies have been the U.S. dollar and the Chilean peso, the latter is diverging from the rest of our selected list as it corrects while all other currencies extend losses
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