A picture illustration shows Mexican pesos and U.S. dollars. PHOTO: REUTERS/Edgard Garrido
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.
Screen Shot 2018 08 27 at 9.51.55 AM
Comments
more recommended stories
SEDENA awards contract to presidential aide’s firmMexico’s Ministry of Defense awarded last.
In the middle of the night, a man drowned at the Chelem Ría in Progreso, YucatanProgreso, Yucatán, (October 16, 2021).- Due.
“Asociación de Cantineros” emerges strong in MeridaAs a response to what they.
8-year-old girl suffers burns in Uayma, Yucatán and is urgently taken to a Texas hospitalMichou and Mau Foundation helps with.
Spectacular Blood Moon will be visible in Yucatan on October 20thMÉRIDA, Yucatán, (October 16, 2021).- The.
Inclusive Entrepreneurship Fair will be held in December at Mérida´s ADO CAME former bus stationMÉRIDA, Yucatán, (October 16, 2021).- Work for.
Shooting at the Mexico City International Airport, 1 dead and 2 injuredEduardo Beaven was preparing to make.
La Palma volcano unleashes ‘lava tsunami’6,800 people evacuated as eruption becomes.
World Food Day: The Huge Global WasteMexico City, (October 16, 2021).- Food.
An elevated viaduct will be built to connect with the Progreso High PortProgreso, Yucatán, (October 16, 2021).- In.
Leave a Comment