empty
 
 
US Commerce Ministry boosts Mexican peso
13-03-2017 18:25
US Commerce Ministry boosts Mexican peso
US Commerce Ministry boosts Mexican peso

The United States changed its stance on trade relations with Mexico. A few statements from new Secretary of Commerce Wilbur Ross were enough to trigger a rapid growth of the Mexican peso against the US dollar.

Donald Trump’s tough remarks on trade with Mexico crushed the peso, which continued to weaken after every Trump’s speech. Wilbur Ross unlike his boss does not rush to end trade relations with the neighbor: he intends to maintain the current North American Free Trade Agreement (NAFTA) and is open to negotiations with the Mexican government. 79-year-old Wilbur Ross, also known as the King of bankruptcies, expects not only to stimulate growth of the US economy, but also to strengthen the peso. Ross said that it is a good time to leave harsh statements and mutual accusations aside and start talks. This statement triggered an immediate growth of the peso by 1.87 percent against the US dollar. "The peso has fallen a lot, mainly because of the fear of what will happen with NAFTA. I believe that if we and the Mexicans make a very sensible trade agreement the Mexican peso will recover quite a lot." Wilbur Ross said.

Since mid-2014, the Mexican currency has been under serious pressure which intensified after the victory of Donald Trump. However, the new US Secretary of Commerce managed to soften it slightly by his comments.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback