Mexican peso falls as AMLO's victory sparks uncertainty over Mexico's economy

Supporters of Mexico's presidential candidate Andres Manuel Lopez Obrador at a rally at the Azteca stadium in Mexico City

Anti-Trump mood sways Mexican voters in U.S. in favour of Lopez Obrador

The election of Andrés Manuel López Obrador on Sunday marked a historic moment for the Mexican left-and a potential shift for U.S. -Mexico relations.

Lopez Obrador's coalition - led by the Morena party he launched in 2014 - appeared to be on track for a strong showing in state and congressional races as well, winning at least five of the day's nine governor's races, according to exit polls.

He worked for the state's Indigenous Affairs Bureau in the 1970s, and began his political career by joining the Institutional Revolutionary Party (PRI) and became the Tabasco state president for the party.

The Mexican peso and the country's main stock index are both down about 1 percent following the crushing victory by leftist Andres Manuel Lopez Obrador in the country's presidential elections. She is now based in Mexico City.

In an interview with the Televisa news network, Lopez Obrador did not provide specifics on what an "understanding" with the Trump administration might look like, except to emphasize the need for mutual respect and co-operation between the two neighbours. Lopez Obrador, who founded the National Regeneration Movement (MORENA), follows in the populist tradition, and vowed to fight fire with fire when it comes to Trump.

"Whoever it is will be punished, I include comrades, officials, friends and family members", the 64-year-old said.

The elections have significance for the United States as well.

Lopez Obrador, who says he wants firm but friendly relations with Washington, said he would discuss NAFTA with outgoing President Enrique Pena Nieto when they have their first meeting after the election, set for Tuesday.

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Lopez Obrador's supporters began wild celebrations in Mexico City, cruising up and down the central Paseo de la Reforma boulevard honking horns to the tune of "Viva Mexico!" and waving Mexican flags from vehicle windows and moon roofs.

The President-elect said he would forge a new relationship with the United States "rooted in mutual respect and in defence of our migrant countrymen who work and live honestly in that country".

"Now that he has won, he can not fail this new generation that believes in him", said Mariano Bartolini, a 29-year-old lawyer who voted for Lopez Obrador in the northwestern city of Rosarito, near Tijuana.

He will face a laundry list of challenges, including a lackluster economy and a thorny relationship with the United States under President Donald Trump, whose anti-trade, anti-immigration policies have turned diplomacy with Mexico's key trading partner into a minefield. The talks have been stalled over the Trump administration demands for higher USA content and a "sunset clause" in the 1994 trade agreement. In both of Lopez Obrador's previous two presidential losses he alleged fraud.

Officials estimated voter turnout at 63 percent among the 89 million people who were eligible to vote in Mexico's biggest-ever elections.

"I see that the results [of the voting] are favorable for Lopez Obrador".

Lopez Obrador's presidential competitors, Jose Antonio Meade of the ruling PRI party and Ricardo Anaya of the PAN party, wished him success "for the well-being of Mexico". "That is what brought us to this", she said.

Lopez Obrador has repeatedly promised just that, though some businesspeople have been skeptical.

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