Currency Analysis Report 6/28/19 – The Mexican Peso…Stuck In The Mud

Mexico’s central bank was divided in its decision to keep the key interest rate at a decade high Thursday, with one board member voting for a quarter-point cut as the economy sputters.There’s a consensus building that the U.S. will join central banks from Chile to Australia and cut rates next month amid prospects of slower global growth, and while analysts have been expecting no change from Mexico through year-end, the board may be preparing the way for an eventual reduction, said Alberto Ramos, the chief Latin America economist at Goldman Sachs Group Inc.“We still believe interest rate cuts this year

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