Mexico’s peso jumped versus the U.S. dollar on Friday, as Mexican President-elect Andrés Manuel López Obrador walked back promises of banking regulation. On Thursday, his Morena party introduced a bill proposing to cap banking fees in Mexico, which weighed on stocks in the sector. López Obrador, who officially takes office in December, said he was no longer looking to change banking laws, according to reports. The Mexican peso rallied in response, dragging the dollar-peso pair USDMXN, +0.0921% into negative territory. One dollar last fetched 20.1423 pesos, down from 20.1961 late Thursday.
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