Business
In January, the Mexican Peso (MXN) weakened from 16.97 to 17.17 in opposition to the US Greenback (USD). Economists at MUFG Bank analyze Peso’s outlook.
Business MXN weakening direction ahead
Ms. Claudia Sheinbaum from the Morena party is favourite to receive the presidential election scheduled on 2nd June, benefitting from the high approval ranking of incumbent president Mr. Lopez Obrador. Nonetheless, we demand slack MXN weakening during 2024 due to some uncertainties over the industrial insurance policies to be adopted by the following administration.
While coverage continuity has been signalled, Ms. Sheinbaum’s authority might be constrained by the influence of the incumbent president and other Morena party leaders. On top of that, seemingly, the Morena party will now not have the specified two-thirds majority in Congress to depart reforms.
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