Banxico's Carstens: Peso moves a good example of the currency overreacts
|The Bank of Mexico Governor Agustín Carstens crossed the wires last hours, via Reuters, commenting on the exchange rate and monetary policy.
Main Headlines:
Peso losses and recovery this year a good example of how peso overreacts
Expect inflation will be above target range this year, begin falling by end of 2017 and converge to 3 pct in 2018
Bank will act opportunely to ensure inflation expectations are anchored
Mexico looking for best combination of monetary, fiscal policy
Meanwhile, the Mexican peso caught a fresh bid-wave on Banxico’s Carstens’ comments, knocking-off USD/MXN to session lows near 18.9940 levels.
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