So far, they appear to be on the right track.
The Mexican peso is strengthening: it rose to a three-month high on Friday after investors bet that the Federal Reserve will cut its benchmark rate in March. Investors who believe the peso will continue its upward trend can hedge the falling dollar with the CurrencyShares Mexican Peso Trust (FXM).
Mexico’s Central Bank cut projections for growth in 2008 by nearly a percentage point. The iShares MSCI Mexico (EWW), however, is up 9.8% year-to-date. Since Jan. 22, it’s been up 7.5%. The fund is currently residing below its trend line, though. If President Calderon’s plan to boost his country’s infrastructure is a success, it could make this fund one to keep an eye on.
