Peso tumbles against the dollar after victory of Claudia Sheinbaum and majority of Morena in Congress

In the early morning of Monday, the peso depreciated against the dollar

Last night, INE revealed the preliminary results of votes for the presidency, senate, congress, and state governors and municipalities in Mexico. This resulted in a preliminary victory (though solid) for Claudia Sheinbaum.

In addition, Congress will consist mainly of members of the same party as the future president of Mexico. This has resulted in some consequences, especially for the dollar.

The Mexican peso depreciated against the dollar in the morning of Monday, June 3 and it is currently at $17.41. According to Forbes Mexico, though Sheinbaum will have a majority in Congress, there could be changes in the Mexican Constitution.

This could affect investors as, according to Gabriela Siller, financial analyst director of Financial Group BASE, any good investor looks for a good balance between risk and yield, and a change in perspective can create uncertainty.

However, generally speaking, it is possible that currencies are undergoing volatility due to a change in government rulers, especially due to a political or economic uncertainty associated with this new leadership.

VIDEO: Long lines to vote in Tijuana

[dailymotion title="¡Más de 6 horas esperando! Registran gran afluencia en casillas especiales de Tijuana" image="" duration="7"]x8zjjdy[/dailymotion]


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