MEXICO CITY – Economists have long said that when the United States catches a cold, Mexico gets pneumonia.
But analysts now say that Hillary Clinton‘s pneumonia has given Mexico’s peso something worse.
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The peso broke the psychological barrier of 20 pesos per dollar Monday, and analysts and commentators cite the role of the U.S. presidential campaign.
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A Banco Base analysis says the strength of Republican candidate Donald Trump influenced the peso. Mexico newspaper columnist Carlos Loret says Democrat candidate Clinton’s health problems are key.
Trump has been critical of Mexico and the trade agreements its economy relies on.
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Oil prices were once cited in the peso’s decline, but they have risen somewhat from this year’s earlier lows.
The U.S. has an outsize influence on Mexico’s economy, buying about 80 per cent of Mexico’s exports.
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