Mexican reform agenda should differentiate MXN from other EM currencies

Quotes from Barclays Capital:

-We are neutral on MXN for now but expect the growth acceleration and approval of energy reform bylaws (in Q3) to spur appreciation in the final months of the year. We think it is prudent to wait before buying the MXN, as longs may have become crowded temporarily.

-Over the medium term, the Mexican reform agenda should differentiate the MXN from other EM currencies, supporting our 12.50 USD/MXN forecast for mid-2015.