The latest Reuters survey forecasts that the Mexican peso will face further depreciation pressure against the US dollar over the next 12 months. According to the latest survey data, the Mexican peso is expected to depreciate by 6.3%, with a target level of 18.38, compared to the January forecast of 18.55, indicating a market adjustment in its depreciation outlook.

Meanwhile, the Chilean peso is also under depreciation pressure, expected to decline by 1.8% to 876.90 within 12 months, an improvement from the January forecast of 900.0. This suggests that the two countries' currencies are experiencing different pressures during the US dollar appreciation cycle, with the Mexican peso facing a relatively higher risk of depreciation.