Republican candidate Donald Trump has drawn criticism in Mexico by talking about Mexican migrants being rapists and bringing drugs to the US, and building a US-Mexico border wall. (Photo: Bloomberg)
Mexico’s peso weakened and the country’s stocks fell after a poll showed Donald Trump is leading Hillary Clinton by five points in Ohio, a state that has backed the winning presidential candidate in every election since 1964, Bloomberg news agency reported.
The peso declined 0.8 percent to 19.2352 per dollar by 12:47 p.m. Wednesday in New York, reversing gains of as much as 0.4 percent before the Bloomberg poll. Mexico’s IPC stock gauge slumped 0.9 percent, even as regional benchmarks from Brazil to Colombia to Chile posted gains. The losses worsened during the day as prices fell for oil. Mexico is the world’s ninth-largest producer.
The currency is “being thumped by Trump,” said Per Hammarlund, the chief emerging-market strategist at SEB SA in Stockholm. “The peso looks set to drift lower as long as Hillary Clinton is off the campaign trail.”
Mexico’s exchange rate has weakened 4.9 percent this quarter, the worst performance among 24 emerging-market currencies tracked by Bloomberg. Trump has said he may seek to dismantle the North American Free Trade Agreement and that he’d make Mexico pay for a wall along the U.S.’s southern border by withholding immigrant remittances.
The IPC is moving on “uncertainty related to upcoming events like the Fed meeting and elections in the U.S.,” said Marco Medina, an equity analyst at Casa de Bolsa Ve Por Mas in Mexico City. “You can’t discount the impact that a Trump presidency would have for Mexico and we’ve seen him gaining favor in the polls.”
Source: bloomberg.com
Comments
more recommended stories
Valet parking worker gets shot at Tulum restaurantA valet parking worker was shot.
Protesters show up at informative public meeting regarding the Maya Train Project in MéridaOn Friday, May 13th, civil groups,.
Renán Barrera seeks to attract projects from countries members of the European Community“The best way to promote economic.
Homicides and extortions unstoppable in Acapulco, MexicoWith information from Alina Navarrete Fernández/Correspondent / Latinus.
Tragedy in Tixpéhual, Yucatan; once again a young man takes his own life in this townOn Wednesday, May 11th, a 24-year-old.
Yucatan is present at the Binational Summit of Prosecutors in the United StatesThe flow of illicit merchandise, human.
Moisés Poot Tun is the pride of Hunucmá!Shoes, bags, key rings, belts, earrings,.
Yucatecan mother demands her son to be transferred due to constant school bullyingMother denounces bullying in Kinchil elementary.
Yucatan prepares for the start of the hurricane seasonThe facilities of the Ninth Military.
Ladder found while cleaning the bottom of the famous Zací cenote in ValladolidThe famous Zací cenote in Valladolid,.
Leave a Comment