The Mexican Peso (MXN) trades marginally lower on Tuesday, maintaining the steady bear trend established in its key pairs since April.
The Mexican Peso is edging lower amid investor concerns the government will pass through a controversial judicial reform bill. Rumors an opposition senator has crossed the floor and will vote with the government are weighing. USD/MXN continues rising in a bullish channel. The Mexican Peso trades marginally lower on Tuesday, maintaining the steady bear trend established in its key pairs since April.
Erini Tsekeridou, a fixed-income analyst, said, “although the economic impact is not yet fully clear, markets are concerned about the potential weakening of the rule of law and the concentration of judicial and executive power, which would reduce oversight and accountability,” according to Christian Borjon Valencia, Analyst at FXStreet.
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