89.6 F
Friday, May 27, 2022

Doubts about Trump policies help send peso to 2017 high point

Latest headlines

Mérida’s Noche Blanca 2022 is finally here, and it’s going to be enormous

Five free buses will help visitors navigate La Noche Blanca in Mérida. Photo: Courtesy The citywide arts celebration...

WhatsApp hacks in Yucatán reach ‘alarming rates’

Over the past few days in Yucatán, a growing number of people are reporting having their WhatsApp accounts hacked. 

A Progreso beach is more popular now that the pigs have moved in

A simple concept is drawing more and more visitors to Pig Beach in Yucalpetén,

New study reveals the stunning cost of corruption in Yucatán

According to a new study by the INEGI, corruption in Yucatán costs the state 9.5 billion pesos a year, the highest in the entire country. 
Yucatán Magazine
Yucatán Magazine has the inside scoop on living here. Sign up to get our top headlines delivered to your inbox every week.

A view of the US-Mexican border fence at Playas de Tijuana. Photo: Getty

Supported by rising oil prices and bets that interest rates will increase this week, the battered Mexican peso strengthened on Wednesday.

And a general feeling that White House border and trade policies may not be so easily realized further buoyed the currency.

The peso rose 1.65 percent to its highest level in 2017. While trading above last Friday’s 19.02 high at 1 a.m. EST on Wednesday morning, by 3:30 p.m., the USD/MXN rate had dropped down to 18.71985 — the lowest rate this year.

The peso has recovered to pre-election levels after an all-time low set in January, when Trump took office.

Lately the White House has been less vocal about Mexico’s role in a $20-$60 billion border wall. U.S. Senate Majority Leader Mitch McConnell has flat out denied there’s any chance that Mexico will contribute to its cost.

It’s also unlikely that Congress’s fiscal-year 2017 budget will include any provisions for funding the wall. The White House is still scrambling to find funding for the project.

Adding to doubts, in a speech Tuesday, Interior Secretary Ryan Zinke said the wall is an especially complicated project because the Rio Grande already serves as a natural divider. Zinke said that electronic surveillance devices may be more useful instead of a physical wall in some places. But Trump has insisted that only a physical wall will do.

Democrats quickly claimed that Zinke’s vague comment was a suggestion to put the wall on the Mexican side of the river.

“These guys… now the wall is going to be IN Mexico,” tweeted Matt House, a staffer for Democratic U.S. Sen. Chuck Schumer of New York.

Also Tuesday, the White House unveiled its latest proposal to fund the wall, asking Congress to cut $18 billion from the 2017 federal budget. That would de-fund federal community grants, medical research initiatives and infrastructure projects.

In January, the Trump administration suggested a paying for the wall with a 20 percent tax on Mexican imports, but that plan withered amid public outrage. U.S. consumers apparently were not thrilled with paying more for Coronas and avocados.

Sources:  Tribune, Reuters, CNN




- Advertisement -

Subscribe Now!

More articles

After more than 2 months, why are Mérida’s most iconic monuments still covered in graffiti?

Since the protests held on International Women’s Day back in early March, several of Mérida’s historic monuments remain covered in graffiti. 

Scientists warn some types of sargassum could impact on human health

Large amounts of sargassum are now washing a shore in locations previously relatively untouched by the algae, such as the theme...

The sights, sounds, and flavors of vibrant Chinatown in CDMX

Mexico City’s Chinatown is crowded, frenzied, and chaotic — but in an oddly great sort of way.

Mérida, but not the Caribbean resorts, named in Airbnb survey

Mérida Yucatán is one of the oldest cities on the American continent and boasts the oldest cathedral on the continent’s mainland....

Yucatán goes from 0 to 78 daily COVID cases in 6 weeks

The Yucatán health ministry reported 78 new COVID infections, the highest number of daily new cases since March.

Pig farm accused of hiding cenotes and filling them in with cement

A pig farm in the municipality of Homún is being accused of filling in and hiding two cenotes from environmental authorities. 

New augmented reality app tells the story of Mérida’s iconic corner plaques

Mérida´s municipal government is launching a new mobile phone application to tell the story of the city’s iconic Centro corner plaques.

Tortas in the Park: Family carries on the tradition for 63 years 

Taqueria Don Beto in Parque Las Américas. Photo: Carlos Rosado van der Gracht Strolling through charming Parque de...

Kankí, the Maya city where the stone eyes of ancient gods burn as hot as the sun

Kankí may be only 10 miles or so from the Mérida-Campeche highway, but feels a world away.

La Plancha park project moves forward with a huge budget

Government officials announced an agreement to make the La Plancha land 100% parkland. Photo: Contributed The park that...