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Tensions With U.S. Mount

MEXICO

Tensions across the border have mounted as the US threatened to stop sharing information on criminal investigations with Mexico. This comes after Mexico published hundreds of pages of evidence gathered by US prosecutors against the country's former defence minister. The fallout in the aftermath of the Gen. Cienfuegos situation has been described as pushing bilateral antidrug cooperation to its lowest point in years.


Despite Mexico releasing record daily cases on Saturday of 21,366, restaurants in Mexico City will partially reopen today, however, the capital does remain on the highest red alert.


USD buying has been the theme from the open and has pushed USDMXN back above 19.90 after bouncing from 19.60 support late Thursday. With the US holiday and no domestic data, markets may be lacking any catalyst for a meaningful move.

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