It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
Big Mexican companies will trim 2017 investment on American concerns
Mexico's leading companies are on the verge of reducing their investment in 2017 because of uncertainty as for the future of trade relations with the USA under the Trump administration, as a leading business association informed on Thursday.
A group including the 50 biggest companies from various sectors of the Mexican economy, the Consejo Mexicano de Negocios told that it would inject up to $31.43 billion in 2017, a sag of 6.2% from the $33.5 billion announced for the previous year.
Donald Trump has already threatened to have the North American Free Trade Agreement dumped if he fails to renegotiate it in favor of the USA, thus casting a pall of doubt over the accord, underpinning much of Mexico's commerce.
The given uncertainty provoked volatility in the peso currency, making some traders cautious.
Rattled by concerns over Trump, Mexico’s currency reached a record minimum versus the greenback in January.
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