The hottest fiat currency of em all, the Mexican Peso

MXNJPY just hit 8.2, which is at levels last seen in 2014

In 3 years, the JPY has crumbled 50%(!!) against the Peso

LET THAT SINK IN

There are several things at play here;

Interest rate differential 11.25% vs -0.1%

Low debt to GDP vs super high debt to GDP

Early to hike vs not even thinking about hiking

Abundant natural resources vs dependent on imports

Young demographic vs one of the oldest

etc.

But the interesting thing is that at least for the last 3 years, the Mexican Peso has been a more principled money than the Japanese Yen

And the price clearly reflects that

Sound money always wins

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