Banxico’s Carstens: Mexican Peso could appreciate further to 17 versus USD

Banco de Mexico (Banxico), the Mexican central bank, Governor Carstens is on the wires now, via Bloomberg, after the central bank raised rates overnight.

Key Points:

Peso can reach 17 (to the USD) given the economy's resilience

Pause in rates could last though a Federal Reserve rate hike, actions already taken should be sufficient to take inflation to the 3% target by end 2018