Journalist Enrique Quintana explains in his column the current strength of the Mexican currency despite adversity, attributing it to a combination of economic and political factors that have impacted investors' perceptions. He emphasizes that Mexico's stance on the U.S. tariff measures has been key in this phenomenon, characterized by a search for dialogue and negotiation instead of immediate retaliation.
Howard Lutnick, U.S. Secretary of Commerce, praised Mexico for refraining from participating in reciprocal tariff increases, recognizing the conciliatory attitude of the country. The appointment of Edgar Amador as the new Secretary of Treasury has also been well received by the markets, as he has expressed confidence that there will not be a tariff war with the United States, highlighting the strength of the trade framework and the stability of Mexican fiscal policy.
President Claudia Sheinbaum has emphasized the importance of staying calm and acting strategically in the face of the situation, which has been supported by high-level negotiations and meetings that have taken place. Despite the application of tariffs in Mexico, investors view the outlook with optimism, considering that these could have a short-term impact due to the negative effects on the U.S. economy.
The recent global depreciation of the dollar, driven by lower-than-expected inflation data in the United States, has contributed to the appreciation of the Mexican peso. Despite the turbulence in the markets caused by Trump's tariff measures, the peso has managed to remain stable compared to other foreign currencies, demonstrating the strength of the Mexican economy in adverse scenarios.
The closing of the peso at 19 units per dollar, despite the imposition of tariffs on aluminum and steel by the United States, reflects the resilience of the Mexican currency in the face of current challenges in the international arena.
