Mexican Peso, Loonie Rally on Auto Olive Branch in Nafta Talks
- U.S. reportedly drops demand on vehicles from Canada, Mexico
- Peso leads gains among world’s major currencies after report
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The Mexican peso and Canadian dollar rallied Wednesday after the U.S. reportedly compromised on one of the most contentious issues in North American Free Trade Agreement negotiations.
The Trump administration dropped a demand that all vehicles made in Canada and Mexico for export to the U.S. contain at least 50 percent U.S. content, the Globe and Mail reported, citing people with knowledge of the talks. The peso led gains among the world’s major currencies, while the loonie was the leader among G-10 currencies against the dollar.