On Friday, Goldman Sachs forecast a 13% rally in the Mexican peso
I mean, it's not the worst idea in the world to forecast a Mexican peso rally. There is plenty of bad news already priced in and it's no sure thing that Trump's talk will turn into action.
But picking a bottom is a tough trade because something that's been beaten up as badly as the peso can be completely routed and fall to levels way below any kind of fair value.
So Friday Goldman Sachs predicted a 13% rally in the Mexican peso (or a 13% drop in USD/MXN).
Today, the pair is up 1% to 21.68.
