Mexican Peso depreciates against the US Dollar, as USD/MXN remains above 20.00 figure. Mexican Supreme Court debates judiciary reform amid rising domestic political tensions. US election in close race adds to Peso's depreciation as investors seek safe-haven assets. The Mexican Supreme Court began discussing Judge Juan Luis González Alcántara Carranca's proposal to modify the controversial judiciary reform presented by the ruling party Morena.
The Federal Open Market Committee is expected to cut rates by 25 bps on November 7. Data from the Chicago Board of Trade, via the December fed funds rate futures contract, shows investors estimate 49 bps of Fed easing by the end of the year. USD/MXN technical outlook: Mexican Peso trims some losses as USD/MXN drops below 20.20 The USD/MXN reached a new yearly peak of 20.35, yet the pair has retreated below 20.20 as recent polls showed Kamala Harris up in Nevada.