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Mexican Peso retreats with odds falling in favor of Trump
The post Mexican Peso retreats with odds falling in favor of Trump appeared on BitcoinEthereumNews.com. Most recent article: Mexican Peso rises on dovish Powell comments The Mexican Peso depreciates on the back of risk of Donald Trump winning the US presidential elections in November. Such a victory would likely lead to higher tariffs on foreign imports, negatively impacting Mexico. Banxico Governor Victoria Rodríguez Ceja raises the possibility of interest-rate cuts coming down the track The Mexican Peso (MXN) continues creeping lower in its most traded pairs on Tuesday as concerns mount that former US President Donald Trump could win the US presidential election in November and raise tariffs on Mexican imports. Meanwhile, commentary from Bank of Mexico (Banxico) Governor Victoria Rodríguez Ceja suggests the bank is moving closer to cutting interest rates, another negative factor for MXN. One US Dollar (USD) buys 18.29 Mexican Pesos at the time of writing, whilst EUR/MXN trades at 19.65, and GBP/MXN at 23.19. Mexican Peso in volatile ride The Mexican Peso is sliding after the US Supreme Court judged Donald Trump has broad immunity from prosecution over his alleged attempts to undermine the 2020 election results that saw Democrat Joe Biden win by a narrow victory, as per Reuters. The decision increases the chances Trump could go on and win the US presidential election in November. Such an outcome would probably have a negative impact on trade. Trump has said he will continue with an “America First” agenda, preferencing American-made goods and slapping tariffs on foreign imports. The move would be negative for the Peso given the close trade ties between the two nations. Further, given the stark political differences between the two countries’ presidents, the likelihood of much goodwill generated between them is extremely low. Banxico not helping out here In an interview with El Financiero, Banxico Governor Victoria Rodríguez Ceja said, “The Mexican economy is in a solid position to…
The post Mexican Peso retreats with odds falling in favor of Trump appeared on BitcoinEthereumNews.com.
Most recent article: Mexican Peso rises on dovish Powell comments The Mexican Peso depreciates on the back of risk of Donald Trump winning the US presidential elections in November. Such a victory would likely lead to higher tariffs on foreign imports, negatively impacting Mexico. Banxico Governor Victoria Rodríguez Ceja raises the possibility of interest-rate cuts coming down the track The Mexican Peso (MXN) continues creeping lower in its most traded pairs on Tuesday as concerns mount that former US President Donald Trump could win the US presidential election in November and raise tariffs on Mexican imports. Meanwhile, commentary from Bank of Mexico (Banxico) Governor Victoria Rodríguez Ceja suggests the bank is moving closer to cutting interest rates, another negative factor for MXN. One US Dollar (USD) buys 18.29 Mexican Pesos at the time of writing, whilst EUR/MXN trades at 19.65, and GBP/MXN at 23.19. Mexican Peso in volatile ride The Mexican Peso is sliding after the US Supreme Court judged Donald Trump has broad immunity from prosecution over his alleged attempts to undermine the 2020 election results that saw Democrat Joe Biden win by a narrow victory, as per Reuters. The decision increases the chances Trump could go on and win the US presidential election in November. Such an outcome would probably have a negative impact on trade. Trump has said he will continue with an “America First” agenda, preferencing American-made goods and slapping tariffs on foreign imports. The move would be negative for the Peso given the close trade ties between the two nations. Further, given the stark political differences between the two countries’ presidents, the likelihood of much goodwill generated between them is extremely low. Banxico not helping out here In an interview with El Financiero, Banxico Governor Victoria Rodríguez Ceja said, “The Mexican economy is in a solid position to…
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