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MEXICAN PESO: Barclays revise their MXN forecasts as a result of:
1) the positive global backdrop for EM carry trades
2) the reiteration of Banxico's prudent stance, which should prevent the MXN's
carry advantage from eroding too quickly
3) reduced uncertainty after the USMCA ratification by the US Congress.
- End Q1 2020 forecast revised to 18.50 from 19.50
- End Q2 2020 to 18.75 from 19.50
- End Q3 2020 to 19.00 from 19.75
- End Q4 2020 to 19.25 from 20.00