June 6 (Bloomberg) -- Goldman Sachs Group Inc. is recommending clients sell Mexico’s peso against the Chilean currency because Mexico will post a “subdued pace of growth” in the second quarter of the year.
Growth in the two Latin American countries is diverging as the slowing U.S. economy undermines Mexico’s industries, analysts led by Robin Brooks wrote in a note to clients today. In Chile, “favorable” credit growth and “strong” industrial and retail sales suggest robust “growth momentum,” the analysts wrote.
The Mexican currency may fall to 38 per Chilean peso from 39.99 today, according to Goldman Sachs.
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