Mexican Peso falls, the Canadian dollar weakens because Trump imposes customs Colombia by investing.com
Investing.com– Mexican Pezo was sharply weakened on Sunday, while the Canadian dollar softened in the midst of increased fears that US President Donald Trump would fulfill his threats of customs duties after introducing high imports of customs Columbia.
The Mexican Pezo was hit stronger, with a couple – which measures the amount of pesos needed to buy one dollar – increased by 1.1% to 20,4949 pesos.
The Canadian dollar also weakened and the couple increased 0.1% to $ 1,4381.
The course strengthened about 0.2% compared to the currency basket, although it had great losses from last week.
Both currencies are affected by an increased concern that Trump will fulfill their threats to impose up to 25% of import duties to Mexico and Canada, after the President introduced a 25% customs on all imports from Colombia.
Trump introduced customs after Colombia refused to allow two US military aircraft transporting deported migrants to land in the country, punishing the Latin American country for not holding on to his immigration policy.
Trump warned that customs duties will increase to 50% by next week due to further disrespect, which will exacerbate relations between the two countries.
The US president threatened to Kanada and Mexico similar to the issue of immigration and what he considered to be a dishonest trade practice. Trump also outlined a 10 percent duty for China, which could be introduced on February 1st.