Arteta, Carlos; Kamin, Steven B.; Vitanza, Justin - In: Journal of International Money and Finance 30 (2011) 8, pp. 1814-1835
In the past decade, some observers have noted an unusual aspect of the Mexican peso’s behavior: During periods when the … U.S. dollar has risen (fallen) against other major currencies such as the euro, the peso has risen (fallen) against the … dollar. Very few other currencies display this behavior. In this paper, we attempt to explain the unusual pattern of the peso …