Trade uncertainty rises dollar to MXN$ 20.20

The Mexican peso weakens due to the low probabilities of reaching a NAFTA deal before the May 17
Trade uncertainty rises dollar to MXN$ 20.20
File photo/EL UNIVERSAL
15/05/2018
16:07
Rubén Migueles
Mexico City
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The U.S. dollar is about to reach the highest daily close since March 2nd, 2017, selling at MXN$ 20.20 – 30 cents above yesterday's close.

This increase is due to the strengthening of the U.S. dollar and a weakening of the Mexican peso due to the uncertainty regarding the North American Free Trade Agreement negotiations.

According to the latest statement of the Minister of Economy, Ildefonso Guajardo, it is highly unlikely that a deal is reached before May 17 – the deadline set by U.S. House Speaker Paul Ryan.

Should an agreement fail to be reached before May 17 or should the U.S. Congress refuse to set another deadline after this date, the exchange rate between both currencies may well see the U.S. dollar selling at MXN$ 20.30.

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