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Polls commissioned by MORENA indicate 80% support for judicial reform and 70% for electing Supreme Court judges. Nearly 90% favor an independent judicial watchdog; around 40% believe many judges and magistrates are corrupt. Mexico’s President-Elect Claudia Sheinbaum revealed that polls commissioned by the ruling party, Morena, supported the popular election of Supreme Court judges. Claudia Sheinbaum said, “These polls are information, they don’t have another objective,” and added, “This is just information to be considered in the discussions that will start in the coming days.” Sheinbaum commented that she would hold talks with elected senators and deputies on Tuesday and compromised public forums to discuss the plan. According to Reuters,” Some 70% backed the popular election of Supreme Court judges, and nearly 90% supported an independent judicial watchdog to probe possible misdeeds or corruption. Around 40% said they believed most judges, magistrates and ministers were corrupt.” The polls jointly surveyed some 3,855 people between June 14-16 with margins of error of just under 3%. USD/MXN Reaction The pair trades at around 18.53, slightly above the 18.50 figure, consolidated. A daily close above the latter could pave the way for further gains. Otherwise, the USD/MXN would likely remain at around 18.35-19.00. Mexican Peso FAQs The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican…

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Filed under: News - @ June 17, 2024 10:16 pm