The latest opinion poll in Mexico suggests that the left-leaning Andrés Manuel López Obrador has made a late charge ahead of July’s presidential election. That has coincided with a sharp sell-off of the peso. However, Enrique Peña Nieto is still on course to win, while the main threat stemming from a victory for Mr. López Obrador is another period of policy paralysis rather than extreme policymaking. As such, global risk appetite looks set to continue to drive movements in Mexican markets.
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