Mexican finance minister: Tariffs are a tax and would hurt both countries

The Mexican finance minister is on the wires saying that

• Tariffs are a tax that would hurt both the US and Mexico
• Vows that they will find a solution

Looking at the daily chart, the USDMXN is trading at 20.766. That is still just short of the high price from November 6 at 20.80915. A move above that level would next have traders targeting the 50% of the move down from the 2020 high to the low price reached in April 2024. The level comes in at 21.0211.

This article was written by Greg Michalowski at www.forexlive.com.