There has been no shortage of crazy news stories to start the year – drones and missiles with Iran, the bizarre escape of Carlos Ghosn, Harry and Meghan taking a "step back" from the royal family. Today we are talking about a much less flashy story, but I think will brown in importance, and one that is taking place just south of the US border.
The Mexican peso has quietly been appreciating over the past several months to levels not seen since last April. This reflects a couple of significant developments – an increase in the minimum wage promised by President Lopez Obrador and what looks to be the end of a rate cutting cycle by Mexico's central bank.
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