Here’s Why the Mexican Peso’s Rally May Be Over
- Peso drops 1.2%, overshadowing EM, regional currencies
- Bullish peso contracts are still near a four-year high
Trump Says He Hopes Shutdown Not Needed for Wall Funding
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The Mexican peso’s reaction to tweets by U.S. President Donald Trump on Nafta and the border wall could signal that the currency has little room left to gain, according to BlackRock Inc. and Citigroup Inc.
The peso fell 1.2 percent, leading losses among major and emerging-market currencies on Monday after Trump tweeted that both Mexico and Canada were being "difficult" during the current renegotiation of the North American Free Trade Agreement. He also insisted that Mexico would pay for a border wall.