Posted on 11/01/2016 9:17:37 PM PDT by Olog-hai
An upswing in Donald Trump’s poll numbers appears to be squeezing Mexico’s currency with a week to go before the election.
On Tuesday morning, Mexico’s peso was selling on average at 19.45 per dollar in banks. Mexico’s central bank says the peso’s interbank rate closed at 18.90 the day before.
The currency has been roughed up in 2016, losing nearly 10 percent of its value. …
(Excerpt) Read more at hosted.ap.org ...
Their economy will take a double hit. A. Paying for a very long wall and B.Losing billions in remittances.
Trump is not even yet elected and he’s affecting foreign currency rates!
Is the peso getting weaker or the dollar getting stronger?
It’d be cheaper for them to start negotiating the price of the wall now.
Yes, negotiate a fixed price in pesos to be paid to the USA now and in a few months when the bill comes and the peso has hit rock bottom, the worthless pesos they pay off with will be a great deal.
Or they could let the US blow tens of billions on the project as every politician tries to pay off their buddy as part of the deal.
ROTF!
Are you reelin’ in the years
Stowing away the time
Are you gatherin’ up the tears
Have you had enough of mine
How about a $10,000 minimum fine or 6 months of labor for being in the US illegally or overstaying your visa. Any money collected be used to pay to build the wall or you could not pay then you would work building the wall.
In a sense that is Mexico paying for it.
So, just the threat of illegal mexican citizens being deported back to mexico makes their currency drop. Interesting
Stole my post, and you’re right.
Mexico’s entire economy is so on the knife-edge of going to crap that their only prayer of keeping it afloat is constantly exporting a grab-bag of their poorest/stupidest/most criminal to the USA. And in large numbers, too.
Even if we couldn’t send them back in large numbers, just putting a halt to 95% of the illegals pouring over would send things into a tailspin as they piled up in Mexico.
The dollar (DXY) weakened yesterday, enough that silver (SIZ6) rose 3%.
I’ve got a FOREX position on that baby right now until 11/09
Gonna make the wall even more expensive for them if the Peso tanks....
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