Mexican Peso Declines on U.S. Trade Dispute

The Mexican currency declined today after a series of international events affected the peso negatively, as the crude oil declined and China entered a trade dispute with the United States.
After China started a probe with the U.S. concerning automotive and dairy products trading, the Mexican peso declined, as most of the events regarding the United States commercial status affect the Mexican currency intensively, since the U.S. is Mexico’s main trading partner. The crude oil rates also declined, affecting one of the main Mexican exports to the U.S. profit margins.
USD/MXN traded at 13.37 as of 20:26 GMT, after closing last week at 13.32.

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