I wrote about the weakening dollar a couple of days ago.
Just so it is clear, a strong peso does not mean improving economy. It simply means dollar is weakening. Weak dollar means strong peso. That’s simple.
New York Times:
Stock markets plummeted and the dollar sank to a record low against the euro yesterday as investors worldwide grew skittish over rising oil prices and the prospect of a substantial economic slowdown in the United States…
…“We are experiencing among our clients an awakening that the United States is in big trouble,” said Erik Nielsen, chief Europe economist at Goldman Sachs.