Mexico's peso jump high as sentiments improved because the country's next president Andres Manuel Lopez Obrador may seek a kindred relationship with President Trump. In their meeting, Trump and Obrador talked The North American Free Trade Agreement, Border security and also a potential bilateral trade deal.
In the second quarter of 2018, the peso was one of the worst performers and this was mainly because the investors were scared of the leading contender's leftist politics.
The peso showed a 2 percent increase(19.57 peso to 1 USD) on the 3 of July. This jump can be called the strongest closing level in more than a month.
The peso has benefitted from the high-interest rates(local) which have caused foreign investors to buy domestic bonds in Mexico by borrowing dollars.
Day traders and investors were encouraged after the meeting of the 2 Presidents and the fact that Lopez Obrador has pledged central bank autonomy and the peso being allowed to trade freely has helped a lot.
This article was written by @warrior-sage and edited by @flashfiction. This article can be found on PROFITRIBES.
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