USDMXN: Peso Falls as Mexicos Finance Minister Suddenly Resigns

Finance Minister Urzua Resignation- Talking Points

财政部长Urzua辞职 - 谈话要点

• Peso sinks nearly 2 percent on the news of Urzuas resignation

  在Urzua辞职的消息中Peso下跌了近2％

• A highly critical resignation letter was posted to Urzuas twitter, mentioning that policy decision were being made “without sufficient foundation”

  一封非常关键的辞职信发布在Urzua的推特上，提到了政策决定正在制定“没有足够的基础”

• President AMLO announces Deputy Finance Minister Herrera to replace Urzua as Minister of Finance

  总统AMLO宣布副财务部长埃雷拉取代Urzua担任财政部长

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USDMXN ripped higher today as Mexicos Minister of Finance unexpectedly resigned. Carlos Urzua, who took the post in December of last year, tweeted out his resignation letter today. The statement addressed President Andreas Manuel Lopez Obrardor and was highly critical of his administration. Urzua highlighted discrepancies regarding economic matters, adding that policy decisions should be based in fact and free from political extremism.

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President AMLO made a statement shortly after Urzuas resignation saying that “Urzua is not in agreement with the governments decisions” and nominated his Deputy Finance Minister Herrera to replace Urzua. The announcement parried further loses in the Peso with USDMXN moving back down to 19.15 from 19.35.

总统AMLO发表声明在Urzuas辞职后不久，他说“Urzua不同意政府的决定”，并提名他的副财政部长Herrera取代Urzua。此次公告在比索中进一步下跌，USDMXN从19.35回落至19.15。

Mexico‘s stock market also took a hit with the IPC Index sliding over 1 percent from 43,500 to 42,817 before attempting to make a small recovery. Urzua’s departure doesn‘t seem to put the recent USMCA trade deal at risk, but does highlight concerns about policy decision making in AMLO’s administration. The sudden departure could add more volatility to the world‘s most traded emerging market currency pair in the midst of a recent GDP downgrade by Banxico – Mexico’s central bank – back in May.

墨西哥股市也出现了下跌在尝试进行小规模复苏之前，IPC指数从43,500下滑1％至42,817。 Urzua的离开似乎并没有使最近的USMCA贸易协议处于危险之中，但确实凸显了对AMLO政府决策制定的担忧。在墨西哥央行（墨西哥央行）近期下调国内生产总值（GDP）降级后，突然离职可能会给全球交易最活跃的新兴市场货币对增加更大的波动性。