Nafta Talks Hurt Peso

Mexican currency falls to weakest since May amid U.S. demands

The Mexican peso fell on Monday to its weakest since May as the U.S. laid out its most aggressive Nafta proposals yet in talks that are nearing an end. The currency weakened beyond 19 per U.S. dollar and is the worst performer among emerging-market currencies against the greenback in the past month. Nafta’s fate may now hang on how flexible the U.S. is about its demands heading into the fifth round of trade talks, scheduled for Mexico City around the first week of November.

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