Mexican Peso At Near 2-month High Vs U.S. Dollar On New Deal To Replace NAFTA
October 01 2018 - 2:53AM
RTTF2
The Mexican Peso spiked up against the U.S. dollar in the
European session on Monday, as the United States and Canada reached
a trade deal to revamp North American Free Trade Agreement as a
trilateral pact with Mexico.
The new deal called the United States-Mexico-Canada Agreement
was reached ahead of midnight deadline set by the Trump
administration.
"USMCA will give our workers, farmers, ranchers and businesses a
high-standard trade agreement that will result in freer markets,
fairer trade and robust economic growth in our region," according
to the statement.
The Mexican Peso advanced to 18.50 against the greenback, its
strongest since August 9. If the Mexican currency rises further,
17.6 is likely seen as its next resistance level.
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