Funds Are the Most Bullish on Mexico Peso in a Year
- Leveraged funds and asset managers increased contracts: CFTC
- Peso has been top-performing currency in world this year
Photographer: Mauricio Palos/Bloomberg
This article is for subscribers only.
Funds and asset managers boosted bullish bets on the Mexican peso to the highest level in at least a year as the currency continues to defy calls it’s overvalued.
Derivatives data from the Commodity Futures Trading Commission show leveraged funds holdings rose to 45,186 contracts, while institutional asset managers increased their positioning to 173,897 contracts, the equivalent of $5.2 billion in bullish peso trades. Those were the largest holdings since last March and December 2022, respectively.