Mexico Peso Drops to Three-Year Low as Lopez Obrador Gets Boost
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Mexico’s peso fell to its weakest since 2009, triggering an intervention from the central bank, after a poll showed gains by a presidential candidate who favors increased public spending and disappointing U.S. jobs reports.
The currency extended its monthly drop to 9.5 percent, making it the worst performer among the 16 major currencies tracked by Bloomberg. The peso weakened as Andres Manuel Lopez Obrador, who narrowly lost the 2006 election, moved to within four percentage points of frontrunner Enrique Pena Nieto in a poll published today by Reforma newspaper.