Peso Tumbles As Trump Threatens To Close Southern Border Next Week…(4…)

Friday, March 29, 2019
By Paul Martin

by Tyler Durden
Fri, 03/29/2019

Update (1:47 pm ET): We noted earlier that there’s reason to believe that Trump’s latest round of border-closure threats might be more than just presidential bluster. And now, it appears the market agrees.

The Mexican peso has tumbled to session lows as traders have slowly come to the conclusion that Trump might be serious about shuttering the border next week to try and send a message to the Mexican government. After tweeting the threat earlier today, Trump said Friday afternoon that he might keep the border closed for a long time.

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In the past, when President Trump threatened to close the southern border over Mexico’s unwillingness to crack down on illegal immigrants crossing through its territory, many took his words with a grain of salt. But after the president twice tried to dictate federal policy via tweet over the past week, there’s cause to believe this might be more than just frustrated presidential bluster.

For the second time in as many days, President Trump has threatened to close the southern border if Mexico doesn’t take action to “stop illegals from entering the US”. The tweets follows reports that “the mother of all caravans” has been forming in Honduras, with as many as 20,000 people hoping to eventually cross into US territory.

Meanwhile, another caravan of 2,500 Central Americans and Cubans has been slowly making its way through Mexico, though they have encountered a cooler response from locals and authorities than what greeted previous caravans.

The Rest…HERE

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