Mexico Central Bank Governor Agustin Carstens expects a "major correction" in the value of the country's currency, the Wall Street Journal reported him as saying on Sunday.
"My sense is that there has been some overreaction in particular in the exchange rate," the Journal quoted Carstens as saying.
"Through time that pressure tends to disappear," he said. "That can give place for a major correction, in the case of Mexico for example, which is something I would be expecting."
Mexico's peso hit a record low against the dollar on Thursday. The central bank hiked borrowing costs in December . . .
