Mexican Peso Spikes Up To Near 3-week High Vs U.S. Dollar On NAFTA Optimism
27 Agosto 2018 - 5:14AM
RTTF2
The Mexican Peso drifted higher against the U.S. dollar in early
New York deals on Monday, following media reports that the U.S. and
Mexico have concluded negotiations on the North American Free
Agreement and agreed on key issues, with an announcement expected
later in the day.
The U.S. and Mexico have reportedly "reached understanding on
key issues" and Canada will rejoin in the negotiations.
This follows remarks from Mexican Economy Minister Ildefonso
Guajardo on Sunday the U.S. and Mexico are close to resolving key
differences on trade.
"I would say that we're practically in the final hours of this
negotiation," Guajardo said before a meeting with U.S Trade
Representative Robert Lighthizer, according to Reuters.
The Mexican Peso advanced to 18.6665 against the greenback, its
strongest since August 9. Next key resistance for the Peso is seen
around the 17.00 region. The pair finished last week's deals at
18.9008.
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