Mexico’s FinMin says NAFTA uncertainty hitting peso

MEXICO CITY (Reuters) – Mexico’s Finance Minister Jose Antonio Meade said on Monday that the peso’s recent depreciation reflects uncertainty about the NAFTA renegotiation process and questions about how quickly the U.S. Federal Reserve will normalize rates.

The peso slipped over 1.0 percent on Monday to its weakest level since May 18.

The administration of U.S. President Donald Trump, which is demanding big changes to the North American Free Trade Agreement, has presented a series of hard-line proposals that partners Canada and Mexico say will be tough to accept.

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