Mexico's president says he's infected with covid-19

Ross J Burland FXStreet

It is confirmed that the Mexican President Andrés Manuel López Obrador has tested positive for COVID-19 and that the symptoms are mild.

Mexico’s president said on his official Twitter account that he is under medical treatment.

“I regret to inform you that I am infected with COVID-19,” he tweeted. “The symptoms are mild but I am already under medical treatment. As always, I am optimistic. We will all move forward.”

Market implications

The peso has not reacted to the news.

However, it is worth noting that US dollar net short positioning in the latest week ballooned to its largest since May 2011, according to the Commodity Futures Trading Commission data released on Friday.

Emerging market currencies have enjoyed a softer US dollar in its decline since its late March peak.

At the time of writing, USD/MXN is trading flat on the day so far at 19.9480.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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