Former Head of LatAm FX trading at JPMorgan eyes big bet against Mexican peso

News

Time to bet against MXN

After 17 years at JPMorgan including leading its Latin American FX desk, Giovani Silva has started his own fund and a big bet against the Mexican peso is one of his first moves.

“Silva is looking at disappointing growth in Mexico and planning to short the peso and receive rates; he’s also studying Brazilian stocks to identify those most likely to benefit from the government’s efforts to shore up its fiscal accounts,” Bloomberg reports.

USD/MXN in near support:

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