Mexican Peso and Markets Round Up
President Andres Manuel Lopez Obrador of Mexico not only believes but the market believes that he will pull off what most thought to be unattainable-namely no tariffs between Mexico and the USA and all by June 10 ie this coming Monday. The Mexico Peso has performed best of the major market currencies on the back of this expectation. Elsewhere oil is steady, equity indices are all green which makes a refreshing change from the sea of red in the past week. Gold firmer at $1328. GBP is steady-I would not dignify it by describing it as stronger-on the lack of any hard news on Day 2 of POTUS in the UK and the start of the inevitable Hokey Cokey that is the Conservative leadership contest. Jeremy Hunt is rumoured to be in discussions for a place in next year’s Strictly but is putting that down to Michael Gove spinning stories.
With not one but two band members celebrating birthdays in the past couple of days, Charlie Watts 78 and Ronnie Wood 72, it is worth remembering just how long the Stones have been big and more to the point earning big. The happenstance that saw Dartford boys Mick and Keith start talking about Muddy Waters when they met in the street in 1962 all those years ago has seen many many hundreds of millions if not multiple billions of GBP, USD, EUR, Yen and indeed just about every other currency revenues from albums, performances and of course merchandise as they have crisscrossed the world.
Unlikely you may think but our earlier rabid bat story provoked postbag from Florida where earlier in the week a 76 year old woman was confronted by a 3.5 metre alligator in her kitchen. Sportingly she described it as having a beautiful face….. well that was before the trapper arrived to capture it when in the ensuing struggle the gator broke a number of her stock of red wine bottles. Then she was less enthusiastic. With the USD strengthening against the EUR on the back of less than positive Europe wide election results, she can at least afford to replace them with some decent French plonk!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Sell first, question later
Charles Porter
Thu 5 Mar 2026
Sell first, question later The jury is still out on whether the initial “sell everything” reaction to a sudden increase in geopolitical risk has concluded. Certainly, some volatility remains which serves as an indication that trading conditions have not calmed whilst markets continue to question how this chapter of US military intervention ends. Emerging markets […]
Daily Brief – Fade America
Charles Porter
Thu 26 Feb 2026
Fade America There have been times during Trump’s second term that have had markets and financial commentators alike calling for an era of ‘sell-America’. Sell-America is the notion describing a scenario in which investor sentiment sours towards the US so much so that valuations across US assets decline. This is a unique scenario because many […]
Daily Brief – Return to geopolitics
Charles Porter
Tue 3 Mar 2026
Return to geopolitics The decision from the US to wage war on Iran has, of course, taken its toll on markets. The obvious move in such an environment from investors is to de-risk. That decision carries the tell-tale impacts in FX of boosting the Dollar’s value, putting EM under pressure, and causing a flood of […]
