Peso Pounded As Political Risk Re-Emerges In Mexico

The Mexican peso tumbled more than 1% this morning, more than every other major emerging-market currency except the South African rand.
Bloomberg reports that traders were anticipating a victory for the opposition Morena party in this weekend’s gubernatorial elections in the state of Mexico, according to Win Thin, Brown Brothers Harriman & Co.’s head of emerging markets in New York.
And the peso is back at one-week lows

This post was published at Zero Hedge on May 30, 2017.