Mexican Peso Off All-time Low Against U.S. Dollar
November 09 2016 - 4:02AM
RTTF2
The Mexican Peso came off from an early record low versus the
U.S. dollar in the European session on Wednesday, amid expectations
that the central bank may announce measures to curb the currency's
free-fall after Trump's victory.
The Mexican central bank and the finance ministry is holding a
joint conference, with markets expecting some emergency measures to
protect the Mexican economy.
The Mexican Peso had fallen sharply in the Asian session, after
Trump shocked markets with a majority victory in the U.S.
Presidential elections held on Tuesday. The Republican had vowed to
renegotiate the trilateral North American Free Trade Agreement, or
NAFTA, between the U.S., Canada and Mexico, which would curb trade
relations with the nation.
The Mexican Peso was trading at 19.70 per dollar, off its early
fresh record low of 20.77. The currency has set a 2-1/2-month high
of 18.16 early in the Asian session. The next possible resistance
for the Mexican Peso is seen around the 18.00 zone.
US Dollar vs MXN (FX:USDMXN)
Forex Chart
From Apr 2024 to May 2024
US Dollar vs MXN (FX:USDMXN)
Forex Chart
From May 2023 to May 2024