Dollar strengthens against Mexican peso amid trade dispute between US and China

The The Mexican peso started the week with setbacks in the face of international concern about trade tensions between the United States and China this could affect global growth.

Monday, the Ministry of Finance of China announced that its intention to impose plans impose tariffs on US products estimated at US $ 60,000 in response to Washington's measures by increasing taxes on Chinese products by $ 200 billion.

The new tariffs on American products, What will enter into force on 1 Junewill increase from 5% to 25% and will be applied on a total of 5,140 products.

Just a few hours ago, the President Donald Trump had warned China that he "should not retaliate," since the situation "would only worsen". However, Beijing continued with the decision.

Some of goods affected by rates these are products such as microwaves, printers, solar cells, the wood industry, textiles and others, such as honey, games and certain types of coffee, detailed Bloomberg in information information cited by the newspaper The financier.

The Bank of Mexico (Banxico) reported that the interbank dollar closed at 19.20 units, its highest level since April 3rd. That day, the peso fell by 12.20 cents, or 0.64%.

In banks, the US dollar was sold at 19.50 units, higher than the 19.35 reported by Citibanamex at the end of Friday.

The exchange rate of the peso against the dollar reached a high of 19.25 on Monday, while the minimum was 19.14 units on the wholesale market.

"The most important exposure to risk has been reflected in the fact that, out of the 31 most traded currencies in the world, 29 have lost and have managed to stay only in positive territory two" , according to the information provided by Bloomberg.

The The Mexican peso is ranked 12th Monday as the currency of performance, in the most traded currencies.

Despite the bad start of the week, one of the measures that reinforce the peso is the announcement by the Mexican government of balance Pemex's finances, such as $ 2,500 million in debt refinancing and the renewal of two lines of credit up to a maximum of $ 5,500 million.