The Mexican Peso declined against the U.S. dollar in the European session on Friday, as U.S. President Donald Trump's announcement to impose tariffs on steel and aluminum imports triggered worries about the talks over NAFTA agreement.

Investors are worried that Trump's protectionist stance to impose the tariffs may erode the prospects for a NAFTA agreement, which is currency being renegotiated.

The Mexican currency slipped to a 1-1/2-month low of 18.9791 against the greenback, compared to Thursday's closing value of 18.8297. If the Mexican currency slides further, 20.00 is possibly seen as its next support level.

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