Peso Falls Against Dollar After Mexican President Cancels Meeting With Trump

The peso tumbled against the US dollar by noon on Thursday following the announcement that Mexican President Enrique Pena Nieto had cancelled his planned visit to Washington, DC next week to meet with US President Donald Trump.

WASHINGTON (Sputnik) — The peso looked relatively strong against the dollar at 9:00 am New York time when it was traded at a rate of more than 20.9 against the dollar. However over the next three hours it fell by 1.2 percent to a rate of 21.3 per dollar by noon.

Nieto tweeted on Thursday morning he informed the White House he would not attend the meeting scheduled for next Tuesday with Trump in Washington, DC.

The Mexican president appeared to be responding to a previous tweet from Trump earlier in the day suggesting that Nieto cancel his visit if Mexico was not prepared to pay for the new border wall that Trump announced to start building in an executive order on Wednesday.

The two met in Mexico City on August 31, 2016 when Trump was running to become US president.

n the US-Mexico border, cutting grant money from sanctuary cities; and ensuring arrested illegal immigrants are immediately deported from the United States.

Trump’s plan to reinstate the Secure Communities deportation program will funnel more people into detention and deportation proceedings based on racial profiling, Shah claimed.