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13 Aug 2013
Flash: Energy Reforms Good for Mexico, even if not for the Peso Immediately - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at BBH said the reforms proposed by Mexico's President Pena yesterday have the potential to be a game-changer.
Key Quotes:
“Even if the peso does not immediately benefit. Indeed the US dollar is extending yesterday's gains against the peso, with last week's high near MXN12.75 coming into view.
“Reform of Mexico's energy sector has been one of the promises of the Pena government”.
“…he is not the first Mexican president to try. Past attempts by Zedillo, Fox and Calderon were rebuffed. The constellation of political considerations seem to favor the Pena now”.
“Although Pena's plan differs from the one the center-right PAN had proposed recently, the initial response from PAN officials indicate they are likely to support the government”.
Key Quotes:
“Even if the peso does not immediately benefit. Indeed the US dollar is extending yesterday's gains against the peso, with last week's high near MXN12.75 coming into view.
“Reform of Mexico's energy sector has been one of the promises of the Pena government”.
“…he is not the first Mexican president to try. Past attempts by Zedillo, Fox and Calderon were rebuffed. The constellation of political considerations seem to favor the Pena now”.
“Although Pena's plan differs from the one the center-right PAN had proposed recently, the initial response from PAN officials indicate they are likely to support the government”.