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Peso Undecided Amid AMLO Bid For Pemex Support

MEXICO
  • Two-way price action in the Peso yesterday as markets grappled with the Pemex news. Initial upward pressure in USDMXN was faded and saw most recent lows being approached sub 20.60. Desks are suggesting this is likely a move by AMLO and co. to spur the voting base ahead of upcoming mid-term elections June 6.
    • Today the finance ministry will release budget balance through February. Mexico reported an 8-billion peso deficit for January and at 5pm local time: Lopez Obrador holds national address.

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