Mexican Peso May Gain as Aussie Falls, Chandler Says: Tom Keene

Falling commodity prices and a slowing economy will weaken the Australian dollar as the undervalued Mexican peso climbs, according to Marc Chandler at Brown Brothers Harriman & Co.

Mexican Peso ‘Clearly Undervalued,’ Central Bank Head Says

Mexico’s peso is undervalued after tumbling 11 percent against the dollar in the past month, central bank Governor Agustin Carstens said.

The peso rallied today after tumbling for 11 consecutive days on concern slower economic growth will undermine commodity prices. The Mexican currency appreciated 3.8 percent to 13.5630 to the dollar as of 4:58 p.m. New York time.