Fund manager Michael Hasenstab expects Mexico's peso to be supported by the country's solid economy and says investors who are using the currency as a proxy bet against risks in other emerging markets could be burned.
Hasenstab, chief investment officer of Templeton Global Macro, told Reuters in a recent email that he was "positive" on the peso and said "its currently undervalued status has been driven by short-term speculation and proxy hedging strategies."
The peso has been the third-worst performer among the world's 36 most-traded currencies, down around 9 percent this year, behind the . . .
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