Wow! Look what happened to the Mexican Peso after Trump’s press conference
Since Trump won the election, Mexico has been taking a big hit economically. Big U.S companies such as Ford has promised to move their businesses back to the US from Mexico. During Trump’s press conference today, he reiterated Mexico will pay for the wall. In result, the Mexican Peso dropped to a historic low.
Reuters reported: The Mexican peso MXN= weakened to a historic low of 22.04 per dollar and the country’s stock index fell on Wednesday, after U.S. President-elect Donald Trump warned U.S. auto companies would face a high tax for products made south of the border.
Speaking at a news conference in New York, Trump also reiterated that the United States would start building a southern border wall after he took office next week. He said Mexico would reimburse the cost either through a tax or a payment.