The entirety of Mexico is currently in a state of chaos. Here’s the tweet that started it all:
“This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS,” Mexican President Peña Nieto tweeted, according to an online translation.
Immediately after this statement came out, the peso began its mighty fall — and they have no one to blame but themselves.
According to Business Insider, the Mexican currency was down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET.
Surprisingly, the peso had been up by as much as 0.8% at 20.9358 per dollar just three hours earlier.
Expect the peso to continue it’s fall upon Trump announcing his 20% tariff on Mexican goods.
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