LatinNews Daily - 04 November 2020

* Mexico’s President Andrés Manuel López Obrador has dismissed concerns that the result of the US presidential elections might negatively impact the Mexican economy. “Whatever the result of the election in the US, we are guaranteed economic and financial stability”, López Obrador said during his daily press conference on 3 November, the day that Americans went to the polls. “Our economy is solid, healthy, and our country has the trust of foreign investors”, López Obrador stressed, after noting that “our peso remains stable” despite the uncertainty related to the US elections and the second wave of coronavirus (Covid-19) infections in Europe. However, the Mexican peso was the most volatile emerging market currency overnight, as vote counting in the US revealed a closer race than initially expected between incumbent President Donald Trump and his Democratic rival, Joe Biden, with no clear winner announced at time of writing. On the prospect of a possible Trump win, the Mexican peso fell by as much as 4% against the US dollar overnight, before regaining some ground, trading at M$21.46/US$1 at time of writing.

End of preview - This article contains approximately 183 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial