Trump Wins and the Peso Falls; Lowering Cemex Fair Value to $8 on Exchange Rate
Following Donald Trump’s U.S. presidential election win on Nov. 8, the U.S. dollar has strengthened 9% relative to the Mexican peso. This level was last seen in September, when Trumps’ chances appeared highest before the election. Given the incoming president’s rhetoric on NAFTA and Mexican economic relations, it’s unsurprising to see the significant appreciation of the dollar relative to the peso.Given the large swing in the exchange rate, Cemex shares are down about 9% as we write, to a lit...
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