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Investing.com -- The Mexican peso is nearing its lowest level since mid-2022, marking four consecutive days of decline.
This downtrend follows the implementation of new 25% tariffs on imports from Mexico by U.S. President Donald Trump.
The Mexican stock market has also experienced a drop, with a near 5% decrease over the past couple of weeks. Despite the recent slump, the market remains 3% higher than its position prior to President Trump’s election.
Mexico’s economy, which heavily relies on trade, sends approximately 80% of its exports to the U.S. In response to the new tariffs, Mexican President Claudia Sheinbaum is anticipated to announce her response during a morning press conference in Mexico City.
In European trading, the peso weakened by 0.9%, trading at 20.87 to the dollar. Key volatility indicators are at their highest level in nearly a month.
Since last April, the peso has depreciated by 22%.
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