The Mexican peso is climbing after Trump tweets 'we will build the wall!'

The Mexican peso is climbing.

The Mexican peso is up by 0.4% at 21.4400 per dollar as of 8:08 a.m. ET.

On Tuesday, Mexico's Economy Minister Ildefonso Guajardo told the Televisa network, "There are very clear red lines that must be drawn from the start" as he prepared to meet with US officials in Washington on Wednesday and Thursday.

Asked whether the Mexican delegation would walk away from the negotiating table if the wall and remittances are an issue, Guajardo said: "Absolutely."

President Donald Trump wants to renegotiate the North American Free Trade Agreement (NAFTA) with Mexico and Canada.

On Tuesday evening, the president tweeted "Big day planned on NATIONAL SECURITY tomorrow. Among many other things, we will build the wall!"

As for the rest of the world, here's the scoreboard as of 7:47 a.m. ET:

  • The US dollar index is down by 0.3% at 99.97. "Participants appear to be growing increasingly frustrated with emerging priorities of the new US Administration," Marc Chandler, the global head of currency strategy, wrote. "They want to hear more details and discussion of the tax reform, deregulation, and infrastructure plans. However, the priority today is on authorizing the construction of a wall between the US and Mexico and possible action on immigration from "terror-prone" countries, according to press reports."
  • The British pound is up by 0.5% at 1.2588 against the dollar. The currency is at its best level since mid-December. Still, a group of analysts at UBS argue that the pound's recent mini-rally will be short lived. "Our strategists are pricing in more weakness to come. Again, we've gone a long way, and yet the uncertainty that the Article 50 procedure is likely to bring further weakness," UBS Investment Bank's Chief European Economist Reinhard Cluse said.
  • The euro is up by 0.2% at 1.0753 against the dollar. Earlier, the German Ifo Business Climate index came in at 109.8 in January, below expectations of 111.3, and below the prior month's reading of 111.0.
  • The Russian ruble is little changed at 59.2213 per dollar, while Brent crude oil, the international benchmark, is down by 1% at $54.88 per barrel.

RELATED: President Donald Trump's controversial Twitter announcements

President Donald Trump's controversial Twitter announcements
See Gallery
President Donald Trump's controversial Twitter announcements
Big day planned on NATIONAL SECURITY tomorrow. Among many other things, we will build the wall!
If Chicago doesn't fix the horrible "carnage" going on, 228 shootings in 2017 with 42 killings (up 24% from 2016), I will send in the Feds!
Signing orders to move forward with the construction of the Keystone XL and Dakota Access pipelines in the Oval Off…
I will be asking for a major investigation into VOTER FRAUD, including those registered to vote in two states, those who are illegal and....
even, those registered to vote who are dead (and many for a long time). Depending on results, we will strengthen up voting procedures!
If the ban were announced with a one week notice, the "bad" would rush into our country during that week. A lot of bad "dudes" out there!
of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting.
Any negative polls are fake news, just like the CNN, ABC, NBC polls in the election. Sorry, people want border security and extreme vetting.

NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin

See Also:

SEE ALSO: What 25 major world leaders and dictators looked like when they were young

Read Full Story
  • DJI26828.47164.070.62%
  • NIKKEI 22522573.66378.281.70%
    Hang Seng24946.63488.502.00%
  • USD (PER EUR)1.18-0.0001-0.01%
    USD (PER CHF)1.09-0.0006-0.06%
    JPY (PER USD)105.750.07000.07%
    GBP (PER USD)1.310.00020.02%