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The dollar fell 1.15% against the Canadian dollar to C$1.4319 and dropped 1.4% against the Mexican peso.
The Mexican peso is the 16th most traded currency in the world, the third most traded currency from the Americas (after the United States dollar and Canadian dollar), and the most traded currency from Latin America. [5] As of 2 January 2025, the peso's exchange rate was $21.16 per euro, $20.62 per U.S. dollar, and $14.28 per Canadian dollar.
The moves: The US dollar index jumped by about 1% on Monday, while the Canadian dollar and Mexican Peso declined by about 1% versus the greenback.
Both the Mexican peso and the Canadian dollar weakened relative to the US dollar in the 24 hours since Trump announced the new tariffs, while the Chinese yuan hit a new low.
The Chinese yuan, Canadian dollar and Mexican peso all slumped against a soaring dollar. With Canada and Mexico the top sources of U.S. crude oil imports, U.S. oil prices jumped more than $1 ...
The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S ... and CAD$1 billion by Canada. [10
The United States–Mexico–Canada Agreement is based substantially on the North American Free Trade Agreement (NAFTA), which came into effect on January 1, 1994. The present agreement was the result of more than a year of negotiations including possible tariffs by the United States against Canada in addition to the possibility of separate bilateral deals instead.
The Canadian dollar, the Mexican peso and the Chinese yuan all strengthened by 1-1.5%, while the euro rose 1.5%, set for its largest one-day rally against the dollar in well over a year.