Mexican Peso Gets BofA's Thumbs Down as More Trump Trouble Looms
- Nafta talks, subdued growth and presidential vote are risks
- Strategist Irigoyen sees peso weakening about 3% by year end
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Bank of America has a warning for the investors pouring into the Mexican peso this year: It’s time to be cautious.
Strategist Claudio Irigoyen says the currency is overvalued after posting the top gain among its major peers in 2017 and should fall as much as 3 percent by the end of the year to 18.5 per dollar. His bearish view is in contrast to bullish calls from peers at Wall Street banks including Morgan Stanley and Wells Fargo & Co., who predict the rally still has steam.