The Mexican peso was trading slightly higher on Tuesday after a six-year losing streak that took it to its weakest level since early November, as the market is closely following the discussion in Congress of a controversial electricity reform bill.
The MXN= currency was trading at 20.6690 per dollar, up 0.22% from 20.7140 at Monday's Reuters reference price. In the past six sessions, the peso accumulated a loss of 4.1%.
President Andres Manuel Lopez Obrador's initiative to modify the electricity industry law, which favors state-owned generator CFE , advanced on Friday in a key commission of the Chamber of Deputies. Mexico (...) with attention focused on the discussion process of the reform to the Electricity Industry Law, which will be presented today in the plenary of the Chamber of Deputies," Banorte (MX:GFNORTEO) said in a report.
Meanwhile, the dollar rebounded from six-week lows as investors' attention focused on how Federal Reserve Chairman Jerome Powell might respond to expectations of accelerating U.S. inflation.
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The MXN= currency was trading at 20.6690 per dollar, up 0.22% from 20.7140 at Monday's Reuters reference price. In the past six sessions, the peso accumulated a loss of 4.1%.
President Andres Manuel Lopez Obrador's initiative to modify the electricity industry law, which favors state-owned generator CFE , advanced on Friday in a key commission of the Chamber of Deputies. Mexico (...) with attention focused on the discussion process of the reform to the Electricity Industry Law, which will be presented today in the plenary of the Chamber of Deputies," Banorte (MX:GFNORTEO) said in a report.
Meanwhile, the dollar rebounded from six-week lows as investors' attention focused on how Federal Reserve Chairman Jerome Powell might respond to expectations of accelerating U.S. inflation.
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