• Mexican Peso plunges more than 2.30% in the week.
• Mexico’s creditworthiness remains solid as Fitch reaffirms Mexico's BBB rating but warns about the judiciary reform.
• Trump's comments on immigration and automotive industry relocation impact Mexican Peso sentiment.

The Mexican Peso prolongs its agony against the US Dollar and dips some 0.16% during the North American session, hurt by market mood deterioration as investors flock to safe-haven currencies. The official nomination of former President Donald Trump as a Republican Candidate and remarks linked to Mexico could be one of the reasons behind the USD/MXN advance, which traded at 17.99 above its opening price by 0.16%.

Sentiment remains sour, as depicted by worldwide indices trading with losses. The Mexican economic docket will gather pace next Monday, July 22, with the release of May's Economic Activity alongside Retail Sales for the same period. This, in turn, has left market participants adrift to US Dollar dynamics.

Across the border, Trump’s comments put Mexico in the spotlight, commenting that he will end illegal immigration “by closing the border and completing the wall.” He added, “China and Mexico have taken 68 percent of our automotive industry, but we are going to get it back.”