Stock market quotes, forex, financial news, forex tools – money-investing.com

Peso fell to a 2-month low after the announcement of sanctions

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Peso fell to a 2-month low after the announcement of sanctions
May 31
09:00 2019

After statements by official Washington about imposing duties on Mexican goods, peso fell against the dollar to its lowest value in the last 2 months.

Trump said that from the 10th of June, the tariffs for Mexican exports would be equal to 5%. Such sanctions will be effective until the flow of migrants traveling to the United States runs out.

US President stresses that trade duties will grow up until the problem is completely solved. Thus, from July 1, the tariff will increase to 10%, and will continue to increase by 5% every month. From October this year, the tariff for Mexican goods is planned to increase to 25%.

The American leader added that as soon as the illegal immigrants stopped entering the country, the duties would be immediately canceled.

The national currency of Mexico has fallen by 3%. Now peso is being traded at 19.7 per dollar. In May, its rate fell by 3.3%. This is the largest monthly decline since October 18.

ICE Dollar, index showing the value of the US currency relative to 6 major currencies, has shown a slight decrease – 0.1%.

 

 The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment