Peso Sinks After Trump Targets Mexico with Tariffs

Jun 01,2019 12:41   Source:Earnforex

Many Mexican peso banknotesThe Mexican peso tanked today, logging huge losses, after US President Donald Trump signaled that Mexico will be another target for US trade wars.

Trump signaled that the United States will impose 5% tariff on all Mexican goods and will be increasing it further if Mexico does not stop illegal migrants coming to the USA. He twitted:

 

USD/MXN surged from 19.1804 to 19.7380 as of 9:35 GMT today, trading at the highest level since December 27.


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