Mexican Peso drops on the news
- says some public policy decisions were made without sufficient foundation
- was unacceptable that some public servants lack of knowledge of finance ministry
- naming of unprepared public servants in ministry was motivated by influential people in the government with conflicts of interest
- He felt forced to quit
The Mexican peso has dropped more than -1%
Mexican stocks are down -0.6%
Looking at the hourly chart below, the price of the USDMXN has moved above the 100 and 200 hour MA and the longer term 100 day MA at 19.11861 (see chart below).
The pair is moving toward swing highs from June at 19.23407 and 19.27204 respectively.
