- The peso dropped more than 1.5% versus the dollar on Wednesday.
- It had previously been paring losses on hope for an early NAFTA deal.
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The Mexican peso slides to a 3-month low amid NAFTA and political uncertainty
The Mexican peso dropped more than 1% versus the dollar on Wednesday morning.
The Mexican peso dropped more than 1.5% early Wednesday on the back of uncertainty surrounding the NAFTA deal and as the Mexico's presidential race heats up.
The peso was down about 1.61% against the dollar at 10:30 a.m. ET. It had been been paring losses Tuesday after President Donald Trump said at a cabinet meeting he could reach a deal with Mexico on the North American Free Trade Agreement "very quickly."
But earlier this week Trump linked a NAFTA deal to immigration issues — centered around a group of about 1,200 Central American migrants in search of asylum — which could be dampening hope for an early deal.
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