The Canadian dollar went up after falling to a minimum since 2023.
He dollar index fell on Monday after the US president, Donald Trumpwould suspend for a month the application of new tariffs to Mexico after the country agreed to reinforce its northern border with 10,000 members of the National Guard to stop the flow of illegal drugs, Trump said. Mexico and the United States will now take advantage of the suspension of one month to establish more negotiations, Trump said.
The delay promoted Mexican weightwhich rose 1.25% against the dollar to 20,4196. Before, he had fallen at his lowest level in almost three years to 21,2882 per US dollar. Meanwhile, the dollar index 0.5% fell to 108.96. He had played a maximum of three weeks of 109.88 in the first operations, Reuters reported.
“This delay in Mexico reinforces the idea that tariffs are just a transactional tool,” said Marc Chandler, Bannockburn Global Forex market chief strategist. As Trump promised last month, the United States announced during the weekend that it would apply 25% tariffs to Canada and Mexico and a 10% tax to China As of Tuesday, considering them necessary to curb immigration and narcotics traffic.
Trump said Monday that he had talked to the Canadian Prime Minister, Justin Trudeauand that would do it again at 3:00 pm in the east. The tariffs to Canada and China are still about to take effect on Tuesday, and Canada has announced retaliation tariffs.
A senior Canadian official told a New York Times journalist that Ottawa is not optimistic about a similar relief being in perspective, said the journalist in X. Canadian dollar It rose to 1,4568 by US dollar, after falling to a level not seen since 2003.
Source: Ambito
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