Dollar shakes the peso after AMLO’s report and reaches $25.31

MEXICO (Times Media Mexico) – The currency rebounded because President Andres Manuel Lopez Obrador’s messages disappointed market participants; “Bad announcement. What a pity,” tweeted economist Marco Eviedo. Before AMLO’s message, the dollar was selling at 25.09 pesos.

The dollar is shaking the peso on Sunday, as messages from President Andres Manuel Lopez Obrador, disappointed market participants.

In international negotiations, the currency was exchanged for 25.31 units, 1.2% or 29 cents more than at the close of Friday, and was only 15 cents short of the historical maximum of 25.46 pesos in operations reported by the Bloomberg agency during the morning of March 24.

Before the Lopez Obrador conference, the dollar was up 0.3% or seven cents from Friday.

“Lousy announcement. What a shame,“ said Marco Oviedo, chief economist for Barclays Mexico, on his Twitter account after the president’s announcements.

“Not only was no economic recovery plan announced. It was also shown that there is no emergency plan, nor the idea of a fiscal policy to stop the coup. Another opportunity wasted. And so the years go by to make this a better country.” tweeted Valeria Moy, director of the Economic Observatory Mexico ¿como vamos? 

The Yucatan Times
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