Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Peso Pounded Most Since Election As Corruption Probe Deepens

Courtesy of ZeroHedge. View original post here.

The Mexican peso has tumbled over 3% in the last 4 days, plunging to its weakest against the USDollar since March as the ongoing corruption investigation soured market sentiment.

As we detailed yesterday, a deepening graft investigation involving Alejandro Gutierrez, a former deputy of sitting President Enrique Pena Nieto could imperil his party’s chances in the coming July elections. An ongoing scandal could also bolster the prospects of leftist rival Andres Manuel Lopez Obrador.

"The news of this arrest scares investors," said Jesus Lopez, a strategist at Banco Base in Monterrey, Mexico.

"These days, the exchange rate is more sensitive because of low liquidity, and we already know that the peso is more vulnerable from the political side."

And the pso is extending losses…

This is the biggest 4-day drop since Trump's election.

Combined with the coming elections and NAFTA uncertainty, Citi warns that Xmas illiquidity may provide more peso downside into 2018.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!