Mexico peso hits record low on Donald Trump uncertainty, more weakening feared
- Mexico's peso MXX=D2 slumped to a new low against the dollar on Tuesday, fueled by concern about the policies of U.S. President-elect Donald Trump, and comments by an economic think tank that further depreciation is "almost inevitable."
The peso was the worst-performing major currency last year, weakening 20 percent against the dollar as Trump closed in on the U.S. presidency. It skidded further to a low of 21.8275 per dollar by mid-afternoon, dipping 2 percent.
As long as uncertainty persists about what Trump will do once he takes office on Jan. 20, the peso could face more pressure.(Excerpt) Read more at: reuters.com ...
- Photo credit(s): reuters.com