López Obrador: Shades of Bernie in Mexico's populist victor

A Mexican National Electoral Institute worker checks electoral material in Ciudad Juarez Mexico

Lopez Obrador will take office in December facing a USA government that has been openly antagonistic to Mexico over trade and migration under President Donald Trump.

"We are actually quite optimistic about the outcome of the election", said Paul Greer, a portfolio manager at Fidelity International.

Lopez Obrador praised the Mexican team that has been leading talks under Pena Nieto to renegotiate the North American Free Trade Agreement.

The peso was down 1.5% to 20.1568 versus the United States dollar at 9:30 a.m. ET after preliminary results from Mexico's electoral commission showed Lopez Obrador sweeping up more than half the vote.

Trump, for his part, has threatened to withdraw the United States from the agreement, which he routinely describes as one of the worst deals the US has ever entered into.

Lopez Obrador has trodden carefully and wants to broker a deal with Trump under which Mexico would work to rein in illegal immigration in return for economic support.

Much remains to be determined about how Lopez Obrador's often nebulous campaign proposals will manifest themselves in government.

The ruling PRI, or Institutional Revolution Part, is expected to suffer losses in this election.

That would be the biggest share of the vote since the early 1980s, and would give Lopez Obrador a strong platform both to address Mexico's internal problems and face external challenges like the threat of a trade war with the United States.

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"I think he's going to try and help us with the border".

Exit polls in Mexico are predicting clear victories for allies of leftist presidential candidate Andres Manuel Lopez Obrador in races for four statehouses plus the capital.

Newly elected Mexico's President Andres Manuel Lopez Obrador, running for "Juntos haremos historia" party, cheers his supporters at the Zocalo Square after winning general elections, in Mexico City, on July 1, 2018. "I desire with all my soul to raise the greatness of our country on high".

Now AMLO says this will change. He says he will seek to form new trade relationships around the world, thus reducing Mexico's dependence on the US. That compares to 26.1 percent for former speaker of Congress and PAN candidate Ricardo Anaya and 20.8 percent for ex-finance minister Jose Antonio Meade of the PRI party. The quick count had them around 22 percent and 16 percent, respectively.

Lopez Obrador said individual and property rights would be guaranteed, promised respect for the autonomy of the Bank of Mexico and said his government will maintain financial and fiscal discipline. His next bid was thwarted too, when Enrique Peña Nieto was chosen as President in 2012. "Eradicating corruption will be the principal mission", he said.

Indeed, AMLO has said a lot of things that Mexicans have wanted to hear for a long time. But he now supports reaching an agreement with the United States and Canada, though talks have been stalled over Trump administration demands for higher USA content and a "sunset clause" in the 1994 trade agreement. And rather than the use of force to fight spiraling violence, he will look to fix root causes such as inequality and poverty.

Polimnia Romana Sierra organized Lopez Obrador's six-member, all-female security detail when he served as Mexico City mayor from 2000 to 2006.

A win for the conservative National Action Party is predicted in the central highland state of Guanajuato. More than 3,000 offices were up for grabs, including 500 seats in the Chamber of Deputies, 128 in the Senate and eight governorships. "It is thanks to us young people who are supporting him that he was able to get more votes than he did in past elections".

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