[bobman0330]

Obviously some people are going to come no matter what. In particular, immigrants who don't plan to send much or any money home (likely to be immigrants who come with their families) shouldn't be affected by exchange rates. (Although the housing slump will have an effect.) Immigrants who are here to earn money to send home will come in smaller numbers though.

I've read that a lot of the negatives associated with immigrants are largely a product of men without women, so an increase in family migration might alleviate the concerns of some immigration skeptics.

EDIT: Though the USD/peso exchange rate is almost exactly where it was in January.