Mexican Peso Drops as President-Elect Sheinbaum Pushes Controversial Reforms

Sheinbaum's plans to overhaul the judiciary and add social benefits spark investor concerns, leading to significant currency depreciation.

The peso has declined by nearly 9% since Sheinbaum's election win on June 2.
Sheinbaum supports outgoing President López Obrador's judicial reforms, including electing Supreme Court judges.
Investors fear the reforms could undermine judicial independence and regulatory oversight.
Sheinbaum has promised consultations with legal stakeholders but remains firm on the reforms.
Mexico's budget deficit and high inflation add to market anxieties.