Mexican peso stability after the U.S. declined to renew the USMCA, sending the trade pact into a process of annual reviews, shows the decision was widely expected, HSBC Mexico's chief economist José Carlos Sánchez says in a note. The timeliness and clarity of the U.S. statement are ultimately positive for the peso, he says. Althougha review process is less ideal than a "clean" renewal, that was never a realistic expectation and "we still see Mexico benefiting from greater access to the U.S. economy than other emerging market peers." The peso trades at 17.47 to the U.S. dollar, compared with 17.56 yesterday.(anthony.harrup@wsj.com)
Dow Jones Newswires
Mexican Peso Unshaken as U.S. Declines to Renew USMCA — Market Talk
Mexican peso stability after the U.S. declined to renew the USMCA, sending the trade pact into a process of annual reviews, shows the decision was widely expected, HSBC Mexico's chief economist José Carlos Sánchez says in a note. The timeliness and clarity of the U.S. statement are ultimately posit…