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Market Update: Mexican Peso at 3-Week High
The Mexican peso strengthened to a 3-week high of 19.8 against the greenback in the second week of June, following the midterm elections for the Lower House of Mexicos Congress on Sunday. President Obradors Morena-led coalition remained the countrys largest political force but was unable to win a comfortable 2/3 majority. The results were welcomed by financial markets, as the ruling party will likely have a harder time trying to push statist constitutional reforms and to weaken independent entities. [/s2If]
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