INSUBCONTINENT EXCLUSIVE:
The Mexican peso fell against the United States dollar on Thursday after United States President Donald Trump confirmed that tariffs on
imports from Mexico and Canada will take effect on March 2.The announcement reversed earlier optimism that the tariffs might be delayed,
shaking investor confidence and pushing the peso lower
The exchange rate fluctuated between a high of 20.5487 and a low of 20.3584 during the day.Earlier, the peso had shown strength for a second
consecutive session, buoyed by comments from White House economic advisor Kevin Hassett, who suggested that tariff decisions could hinge on
The country reported a trade deficit of $4.55 billion in January, compared to a surplus in December, alongside a rise in unemployment to
2.7%.Mexican Peso Slides as Trump Confirms Tariffs on Mexico and Canada
(Photo Internet reproduction)Meanwhile, mixed United States economic data showed steady GDP growth at 2.3% quarter-on-quarter but
weaker-than-expected jobless claims, further complicating global market sentiment.Peso Faces Pressure Amid Stronger United States DollarThe
peso faced additional pressure from a stronger United States dollar, with the Dollar Index (DXY), which measures the greenback against six
major currencies, rising 0.58% to 107.13 points.Emerging market currencies like the peso often struggle when the dollar strengthens due to
reduced risk appetite among investors
tariffs dampened hopes for a delay.Technical analysis pointed to resistance levels near 20.54 pesos per dollar and support around
March 4 approaches, markets will closely watch developments in United States -Mexico negotiations
These negotiations could have a potential impact on trade and investment flows in the region.
