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Currencies: Mexican peso and euro slide on political uncertainty

The big currency stories of Monday were Mexico’s election, which saw leftist front-runner Andrés Manuel López Obrador win the presidency, and Germany’s leadership spat over immigration. Both scenarios harbor some uncertainty for the countries’ respective futures and has weighed on markets.

López Obrador, sometimes referred to as AMLO, cruised to victory after Sunday’s presidential election, marking a sharp left-hand turn for the country’s politics and striking a blow at established parties, as the new Mexican leader ran for his own Morena party. He will be the first president who hasn’t emerged out from Mexico’s two major political parties: the National Action Party (PAN) and the Party of the Democratic Revolution (PRD).

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