0928 GMT - The Mexican peso is holding up well compared to the Canadian dollar as Mexico is more likely to reach a trade deal with the U.S., ING's Chris Turner says in a note. That's because Mexico has got more to lose after President Trump confirmed he would press ahead with tariffs against Mexico and Canada on March 4, he says. "The chances of a deal with Canada might be lower," Turner says. "Canada might be more resistant to being bounced out of other trade agreements, such as the CPTPP." USD/CAD could rise to 1.48 if tariffs are implemented, he says. USD/CAD trades flat at 1.4441 after earlier hitting a three-week high of 1.4454, according to FactSet. USD/MXN falls 0.2% to 20.4473. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 04:28 ET (09:28 GMT)
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