Peso Plunges After Mexican FinMin Unexpectedly Resigns, Questions "Conflicts Of Interest"

The Mexican peso is sliding fast this morning following the surprise resignation of finance minister Carlos Urzua.

Urzua tweeted his resignation letter: "I appreciate the opportunity to have been able to serve Mexico".

Agradezco la oportunidad de haber podido servir a México. pic.twitter.com/aaa2cIa9uI

— Carlos Urzúa (@CarlosUrzuaSHCP) July 9, 2019

And the immediate reaction is selling pesos on uncertainty (back above 19/USD again)...

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Mexican stocks are also fading.

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Urzua proclaimed that "administration decisions were made without sufficient backing" and added that "some government officials held conflicts of interest," and criticized "the imposition of officials with no experience."