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MXN Shorts Crushed After Mexcian Central Bank Unexpectedly Hikes Rate By 50bps, Peso Soars
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 02/17/2016 12:29
It was already a torrid day for commodity currencies, among which the MXN, or Mexican Peso, which were surging on today’s latest crude short squeeze and then as if pulling a PBOC with just one intention – to crush the shorts – the Mexican Central Bank or Banxico, dealt a crushing blow on anyone short the MXN when it announced an unexpected 50 bps rate hike in the overnight rate to 3.75%.
From the central bank: “The target for the overnight interbank funding rate is increased by 50 basis points.”
The post MXN Shorts Crushed After Mexcian Central Bank Unexpectedly Hikes Rate By 50bps, Peso Soars appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/17/mxn-shorts-crushed-after-mexcian-central-bank-unexpectedly-hikes-rate-by-50bps-peso-soars-2/
