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Late Monday Boost For Equities Provides Support For MXN

MEXICO
  • An easing of pressure on core yields and a late boost for major equity benchmarks provided firm support for the Mexican peso during the latter half of Monday’s trading session. Having briefly breached resistance above 20.40, USDMXN had a strong retracement to make fresh lows since the week’s open below 20.20.
  • Echoing comments from AMLO at his daily press conference, the president’s spokesman Jesus Ramirez added some details while talking to Bloomberg News.
    • Mexico’s government is seeking a pact with private companies to limit price increases of basic items. The potential deal, which could be announced by AMLO as early as Tuesday, aims to focus on the roughly 25 items that are part of Mexico’s basic basket of goods.
  • * Moody’s Investors Service sees a more complicated fiscal situation for Mexico compared to last year and even earlier this year as it looks to decide what to do with the nation’s sovereign rating this quarter.
  • U.S. Supreme Court scheduled to hear case on remain-in-Mexico policy.

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