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MEXICO CITY—Financial markets reacted cautiously Monday to Andrés Manuel López Obrador’s decisive electoral victory as investors ponder what the country’s swing to the left will mean for economic policy. The leftist former mayor of Mexico City won more than 53% of the votes Sunday, and the coalition led by his Morena party secured majorities in both houses of congress as well as several key governorships, according to the national electoral agency. After strengthening overnight to as few as 19.64 pesos to the dollar in what currency traders described as a “euphoria rally,” the Mexican currency gave back some gains and was trading around 20.11 per dollar Monday morning.
Global stocks traversed another turbulent week marked by President Trump's surprise tariff announcement.
Global stocks endured volatility during a week dominated by the release of the minutes of the Fed's latest meeting.