• The Mexican Peso briefly recovered on Thursday after the President of the Banxico warned she will prop up the Peso if volatility persists. 
• The recovery falters on Friday, however, as traders continue beating MXN lower following the outcome of the June elections. 
• USD/MXN appears to end its correction and resume its bullish trend. 

The Mexican Peso (MXN) trades between half a percent and one percent lower in its most traded pairs on Friday as markets continue to fret about the proposed policies of Mexico’s newly elected left-wing government. The Peso is additionally pressured by a squeeze on overweight long positions that have built up after a multi-year period of appreciation for the Mexican currency.  

At the time of writing, a single US Dollar (USD) buys 18.56 Mexican Pesos, EUR/MXN is trading at 19.87 and GBP/MXN at 23.63.