Latin American forex could gain from peso devaluation
MARKET NEWS
BUENOS AIRES -- Argentina’s devaluation of the peso last week may provide a cathartic boost to the rest of Latin America -- and Mexico is likely to be the biggest winner, analysts told FX Week.
Lara Rhame, senior economist at Brown Brothers Harriman in New York, told FX Week: "When Argentina devalued, the fear was that the Latin American market would be flooded with cheap imports, but the economic contraction in Argentina is so severe that production and manufacturing will virtually stop
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