Credit Suisse suggests that the US dollar to Mexican peso exchange rate, currently at 16.9092, will not experience a reversal until it reaches the lower end of the target range of 16.50 by the end of the third quarter.

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USDMXN Chart by TradingView

Economists at Credit Suisse stay constructive BRL and MXN and would not look for reversals in either before the bottom of respective USD target ranges are tested, at 4.58 and 16.50 respectively.

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