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AMLO Replaces Anti-Corruption Head, Says More Reforms Needed

MEXICO
  • Investors increased their short Mexican peso positions to a 3-month high before the June 16 Fed decision, CFTC data shows.
    • Investors were short MXN to the tune of 23,930 contracts in the week ending June 15 vs 6,561 contracts on June 8. The Peso lost 1.58% in this period.
    • Leveraged funds added to their bullish peso positions while institutional investors reduced them, both for the first time in four weeks. (BBG)
  • Mexico's president announced Monday he is replacing the head of the government's anti-corruption agency, saying more reforms are needed.
    • Since taking office in late 2018, he has relied on Irma Eréndira Sandoval to head the Public Administration Department. But on Monday he said Sandoval will return to her job as an academic, and public administration expert Roberto Salcedo will take her place.
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