Donald Trump is making the peso great again!
Mexico’s currency surged against the US dollar on Friday, even as Trump was sworn in as the 45th US president — a sharp reversal of fortunes since Mexico’s economy has been threatened by the incoming administration’s protectionist pledges on trade.
The peso strengthened almost 2 percent during the day, so that 21.59 pesos equaled the value of a dollar, the biggest surge in two months. Earlier in the day, it would have cost almost 22 pesos to buy one dollar.
Investors probably moved the peso stronger because they didn’t see Trump’s message sinking the currency below 22 a dollar, and were taking in some short-term gains, Win Thin, global head of emerging markets strategy at Brown Brothers Harriman, told The Post.
“Markets are going to look for what signals he’s going to send,” Thin said. “It seems he’s going to be going an antagonistic route.”
The last time the peso surged more, on Nov. 15, it was after the currency had first broke 20 to one dollar, and traders reportedly thought that the weakening was overdone.