Sheinbaum Picks Ebrard as Economy Chief, Sparking Peso Rally

Mexico President-elect Claudia Sheinbaum named former Foreign Minister Marcelo Ebrard to lead the country’s economy ministry, a move that relieved pressure on the peso as traders welcomed a selection seen as more market-friendly than potential alternatives.

Ebrard is considered a more moderate Morena member whose experience dealing with Donald Trump during the start of outgoing President Andres Manuel Lopez Obrador’s presidency could benefit Sheinbaum, especially if the presumptive Republican nominee wins the US election later this year.