Peso smacked after Mexican president cancels meeting in latest international Twitter spatAt its low, the currency was down more than a percent against the U.S. dollar after Mexican President Enrique Pena Nieto canceled a meeting with President Donald Trump, in a dispute over Trump's border wall. It later reversed some of the losses.
After Pena Nieto's tweet, the dollar moved higher against the Mexican currency. Dollar/peso rose to 21.30, after hitting 20.86 earlier in the day. The peso was down 1.1 percent against the dollar at midday but it recovered about a half percent in afternoon trading. The low for the peso was when it reached 22.0385 to the dollar on Jan. 11.
The U.S. trade deficit with Mexico was about $58 billion in the first 11 months of 2016. It was $58 billion for all of 2015, according to Commerce Department data. The deficit was the largest in 2007, at $74.8 billion.
According to the Office of the U.S. Trade Representative, Mexico was the third-largest supplier of goods imported into the U.S. in 2015. The top category was vehicles, including parts at $74 billion. The U.S. also imports electrical machinery, mineral fuels, and optical and medical equipment. The U.S. imported $21 billion in agricultural products in 2015.
http://www.cnbc.com/2017/01/26/peso-crushed-after-mexican-president-cancels-meeting-in-twitter-spat.html
