Peso Surge After Congress Sinks Obamacare Reform Elena Toledo - PanAm Post
go to original July 22, 2017

As of Saturday morning, 1 US Dollar equaled 17.65 Mexican Peso (UFM Market Trends)

The Mexican peso came out a winner following the United States’ Congress inability to come to an agreement on healthcare reform this week. The bill, which would have repealed Obamacare and replaced it with Republicans’ alternative, weakened the US dollar on the international currency market.

The peso gained .51-percent on Tuesday that raised it to 17.49 MXN to USD 1.

The peso already had momentum coming in from last week, having seen its best week in six months, which many experts, now feeling slightly more optimistic about Mexico’s economy, attributed to the United States’ soft stance on NAFTA, among other things.

Roberto Galván, an analyst with Intercam Casa de Bolsa, said the dollar is losing value because Trump continues to lose policy battles on multiple fronts.

Additionally, James Salazar, a senior economic analyst at CIBanco, said the revaluation of the Mexican peso is directly tied to the weakened US dollar, which can be traced back to President Donald Trump’s failed push for healthcare reform.

Read the rest at PanAm Post | Español

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!