• USD/MXN rises 0.20% to 19.97, hitting a four-week low of 20.14 amid ongoing political turmoil in Mexico.
• Judicial reform bill awaits Senate approval with potential consequences for US-Mexico relations and market sentiment.
• Mexico’s upcoming inflation data and US NFP are key factors that could influence further Peso movement.

The Mexican Peso fell against the Greenback during the New York session, hitting a four-week low of 20.14. The financial markets continued to digest the lower house decision to approve President Andres Manuel Lopez Obrador's (AMLO) bill to make changes to the judicial system. The Peso extended its losses for the third straight day and finally cracked the psychological barrier of 20.00 as traders began to ditch the Mexican currency. The USD/MXN trades at 20.01, up 0.40%.

Mexico’s economic docket is scarce with investors eyeing the release of automobile industry data on Friday. Next week, inflation figures will garner attention after the Bank of Mexico (Banxico) decided to lower borrowing costs despite revising their inflation projections upward.

Back to political developments, two-thirds of the Senate must now approve the judicial reform bill. Morena’s ruling party is shy of one vote, but if the bill is cleared, it will be passed to 32 local congresses for their approval. Once the bill is approved in 17 of those states, the changes to the Mexican Constitution will be officially made.