The Mexican Peso down over 2.00% at one point after Trump’s latest tweet a tariff on Mexican goods

CNBC reported, “The U.S. will impose a 5% tariff on all Mexican imports from June 10, President Donald Trump said in a tweet on Thursday night.”

The risk aversion spellbound after Trump’s tweet in the Asian session. In such circumstances, JPY performs better than CHF and Gold. Flipside AUD to underperform. Interestingly the kiwi dollar remained neutral, and the U.S. dollar could keep the momentum.

The Mexican Peso fell over 2.00% across the board. Especially USDMXN spikes as high as 19.59, pauses ahead of the March 2019 high seems to be at 19.60. A move above this could extend the rally initially towards 19.75 and 19.90 levels.

JPY crosses: Interestingly, JPY crosses manages to hold the recent lows, except GBPJPY and NZDJPY.

Current range:

  • AUDJPY: 76.40-75.30
  • CADJPY: 80.65-81.50
  • EURJPY: 121.50-122.25
  • USDJPY: 109.00-109.90

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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