This morning there was a correction in the market, which benefited the Mexican currency after a 2.03% decline the previous day. The concern of investors is in reforms to the Judicial Branch, electoral reform and the disappearance of autonomous organizations, explained Banco Base.
“Yesterday, it didn’t even reach 18 (pesos). We are talking about seven pesos less. Of course we were getting used to 16.60 (pesos),” President Andrés Manuel López Obrador commented this Thursday at the morning conference.
“The reform that produces the most nervousness in the markets is the reform of the Judiciary, because it is kidnapped, it is taken; at the service of a minority, of those above. There are ministers who are like employees of large corporations, or tycoons. If the Judiciary has to be reformed, we are going to do it. And in an orderly manner, without authoritarianism,” he added while pointing out that they will be open to dialogue during the process.
Another local factor that had favored the peso this morning was the inflation, which during May stood at 4.69% below what the market estimated.
For now, CIBanco analysts expect the peso to oscillate in a range of 17.80 to 18.10 units for the rest of the session.
With information from Reuters
