Peso falls after Mexico's president says he won't
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Posted On: 01/26/2017 7:24:50 PM
Peso falls after Mexico's president says he won't meet with Trump
The peso is tumbling after Mexico's president, Enrique Peña Nieto, says he won't meet with US president Donald Trump.
The peso was down by 1.2% at 21.3175 per dollar.
The currency was up as much as 0.8% at 20.9358 per dollar around 8:50 a.m. ET.
Peña Nieto said on Twitter that he will not go to the US for a meeting with Trump.
This follows Trump's earlier tweet on Thursday morning: "The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting."
Mexican opposition figures urged President Enrique Peña Nieto to cancel the meeting to protest his demand of payment for the border wall, according to reports on Wednesday. Peña Nieto said in a recorded address that was nationally televised, "I regret and reject the decision of the US to build the wall."
Trump told ABC News anchor David Muir in an interview broadcast Wednesday night that he wanted construction on the wall to begin as soon as possible. When Muir asked whether that meant construction would start within months, Trump said, "I would say in months, yeah."
source
http://www.msn.com/en-us/money/markets/peso-f...id=UE07DHP
The peso is tumbling after Mexico's president, Enrique Peña Nieto, says he won't meet with US president Donald Trump.
The peso was down by 1.2% at 21.3175 per dollar.
The currency was up as much as 0.8% at 20.9358 per dollar around 8:50 a.m. ET.
Peña Nieto said on Twitter that he will not go to the US for a meeting with Trump.
This follows Trump's earlier tweet on Thursday morning: "The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting."
Mexican opposition figures urged President Enrique Peña Nieto to cancel the meeting to protest his demand of payment for the border wall, according to reports on Wednesday. Peña Nieto said in a recorded address that was nationally televised, "I regret and reject the decision of the US to build the wall."
Trump told ABC News anchor David Muir in an interview broadcast Wednesday night that he wanted construction on the wall to begin as soon as possible. When Muir asked whether that meant construction would start within months, Trump said, "I would say in months, yeah."
source
http://www.msn.com/en-us/money/markets/peso-f...id=UE07DHP
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