The Mexican peso jumped Monday after the US and Mexico reportedly reached a breakthrough on NAFTA, clearing the way for to an end to sluggish trade negotiations among the two countries and Canada that have dragged on for more than a year.
The peso was up as much as 1% against the dollar after US and Mexican trade negotiators reached an agreement to rewrite key parts of the deal, according to the New York Times, which could be announced as soon as Monday.
Still, negotiations on at least one “major” issue are still pending, Mexican Economy Minister Ildefonso Guajardo told reporters, according to Reuters.
The two countries earlier this month entered a round of bilateral negotiations for modernizing the decades-old trade deal, which President Donald Trump has threatened to pull out of. Sticking points that have stalled those talks include rules on automobile manufacturing and energy.
“Positive NAFTA headlines would reinforce short-run downside in CADMXN,” Mark McCormick, head of North American FX strategy at TD Securities, wrote in an email.
The peso was up nearly 5% versus the dollar this year.
more recommended stories
Mexican drag queens fight prejudice in a land of “Machos”
Lady Morgana, a drag queen from.
Shocking photo of drowned father and daughter highlights immigration issue
The man and his 23-month-old daughter.
Pompeo seeks global coalition against Iran
WASHINGTON (AP) — Secretary of State.
Mexico is doing more than the Democrats in Congress to secure our border (Mike Pence)
The Vice President of the United.
How to stop spam on WordPress sites
A frequent problem of sites where.
Falling tree injures five children in Mérida’s Colonia Miguel Hidalgo de Mérida
Mérida, Yucatán, June 24.- A big.
7 illegal Honduran citizens caught at the Mérida airport about to fly north
Mérida, Yuc. June 25.- As part.
Mega sargassum formation threatens the coasts of Cancun
A “Sargasso stain” of 550 kilometers.
Former President Vicente Fox calls to march against AMLO
Former President and Guanajuato resident Vicente.
Are 52 million pesos enough to address the Sargasso issue in Quintana Roo?
The Mexican Navy Secretariat (SEMAR) will.