Mexican Peso Weakens To 2-day Low Vs Dollar After Trump's Tax Proposal
January 26 2017 - 10:04PM
RTTF2
The Mexican Peso declined against the U.S. dollar in
pre-European deals on Friday, amid heightening tensions between the
U.S. and Mexico, after the U.S. President Donald Trump proposed a
20% import tax on goods from Mexico for the payment of the
construction of a border wall.
Mexican President Enrique Peña Nieto had canceled his trip to
the U.S., as Trump tweeted to cancel talks, if Mexico is unwilling
to make payment for the border wall.
The Mexican Peso declined to a 2-day low of 21.38 against the
greenback, compared to yesterday's closing value of 21.21. The next
possible downside target for the Mexican Peso is seen around the
22.00 mark.
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