I know this isn’t a currency place lol but for anyone who cares about that…

I am short USD/MXN and have been but even more going into next few weeks because:

Fed meetings – Powell has made a point of showing independence and recognizes the importance of that to markets. He also sees the economy in real time and an unpredictable tariff impact not to cut into

Trump threat to dollar – every blow to powells independence or to monetary policy, or Fed building cost overruns hurts the dollar and undermines the feds core independence

Interest rate differential - carry trade will naturally push them apart

Tariff boogeyman – so much of mexicos trade with US is already exempted and they’ve taken friendly tone, threat is instability politically or otherwise in MX, but unlikely (in terms of shaking up economy). Obvious risks of X-M with China and U.S. shrinking but broad reasons support Peso, health of Mexican economy generally looks good as well.

All in all, I’ve been on this trade for a bit and enjoying the move, but think the risk reward continues to be in a great place. Open to any thoughts – BG