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Market Update: Mexican Peso at 3-Week Low

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Market Update: Mexican Peso at 3-Week Low

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Market Update: Mexican Peso at 3-Week Low
The Mexican peso retreated to an over 3-week low of 20.1 per USD in the first week of June, amid a general dollar strength on bets the US Fed will start tapering sooner. Meanwhile, traders await the result of the midterm elections for the Lower Chamber of Mexicos Parliament, which could reinforce President Obradors Morena-led coalition and push forward with statist constitutional reforms. The President has increasingly pushed for state control of the energy sector, arguing that past governments have prioritized private interests against the well-being of Mexicos citizens. [/s2If]
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