The value of the peso took a sharp downturn Thursday after Mexican President Enrique Peña Nieto announced he had canceled a meeting with President Trump scheduled for next week.
The peso was down by 1.2 percent at 21.3175 per dollar shortly before noon,Business Insider reported. It had been up by as much as 0.8 percent at 20.9358 per dollar around 8:50 a.m. ET.
Peña Nieto had said via Twitter Thursday morning that he would not be going to the White House to meet with Trump next week
“This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS,” he wrote.
Trump had criticized the U.S.-Mexico trade relationship earlier in the day with a tweet and said his Mexican counterpart should cancel their planned meeting if he is not willing to pay for a wall on the U.S.-Mexico border.
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