MXN vs Presidents

Mexican president AMLO is a big fan of a strong peso. He often compared  peso's strong performance in recent years with the weak performance under his predecessors. This is one of the reasons why we believe that the Mexican peso has been able to stay stronger along with the US dollar. Political pressure to weaken the currency had been low.

But after the huge rally, even AMLO recently began to think that the peso was perhaps too strong as he referred to the recent weakness in MXN as "helpful". Mexico is soon going to have a new president. As the economy starts to show more signs of slowing this year, the political preference on the exchange rate might also be shifting.