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Former Security Chief Convicted of Cartel Bribery

MEXICO
  • USDMXN continues to trade in a subdued manner this week, holding a tight range between 18.35-18.48. Importantly, the pair still remains below the break level of 18.50, which resumed the technical downtrend.
  • The key data this week is Thursday’s bi-weekly CPI report. Banxico’s minutes for the February meeting will also be released.
  • Associated Press reported that a former Mexican presidential cabinet member was convicted in the U.S. on Tuesday of taking massive bribes to protect the violent drug cartels he was tasked with combating.
  • Under tight security, an anonymous New York federal court jury deliberated three days before reaching a verdict in the drug trafficking case against former Public Security Secretary Genaro García Luna.

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