That is possible. However, I would also say that what you are seeing isn't really a correlation. The Mexican Peso is highly volatile. There are many currencies that are highly volatile, the South African Rand, the Indian Rupee, the Hungarian Forint. Many many minor currencies have massive fluctuations. The Swedish Krona will regularly move 700 or so pips in one direction and then within a couple of hours reverse the move entirely! That is 1400ish pips of movement in one day. Regularly!
Try the SA Rand against the USD. Woh... It is often 2000 pips in one day. My broker gives me a spread of 80 pips on the USDZAR!!! And that is nothing compared to how much it moves.
These are not really correlations with the vix. They are simply highly volatile currencies, it is not quite the same thing. Going out on a limb here as I obviously haven't checked, but pull up a vix chart and overly any of these currencies and I am not sure you will see a correlation. You might see that as the vix increases, vol also increases in a particular currency. But that is what the vix is measuring - S&P volatility, which is a gauge of general market vol.
Just my midnight thoughts...
J