The Euro had appreciated by more than 11.6% in the first half of 2017. The Canadian dollar has appreciated by almost 5% and the Mexican Peso has appreciated by more than 10% in the first half of 2017. This offers currency profits for MasterCard on both top and bottom lines.
The Brazilian real, which was a headwind for MasterCard during 2016, appears to have stabilized.
MasterCard, and to a lesser extent, Visa, appear to offer the potential for an earnings surprise in the coming season.
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