Broke and can’t afford a winter holiday? Mexico is on sale!
USD/MXN rose to 14.99 earlier as worries rise that the country is devolving into a failed “narco state”. The Mexican government was forced to send 5,000 troops to Juarez today as the city struggles amid a growing drug war among the government and the drug cartels.
The Mexican central bank is expected to refrain from further rate cuts in an effort to support the slumping peso.