By Bruno Federowski
SAO PAULO, April 19 The Mexican peso weakened to
its lowest level in nearly two weeks on Wednesday as oil prices
slipped and after remarks by U.S. President Donald Trump
rekindled expectations of strong protectionist measures against
The peso weakened 1.3 percent after Trump
reiterated his threat to eliminate the North American Free Trade
Agreement with Canada and Mexico if it cannot be changed.
Fears that Trump's anti-trade rhetoric could pummel the
Mexican economy had battered the peso last year, but the
currency recovered in recent months as talks between both
countries seemed to take on a moderate tone.
The peso was the worst performer among Latin American
currencies, which slipped due to mounting political concerns
ranging from tensions in North Korea and Syria to elections in
France and Britain.
The Brazilian real also suffered after lawmakers
delayed to May a vote on President Michel Temer's landmark
pension overhaul, which many see as necessary to pull the
country out of its deepest recession on record.
Brazil's benchmark Bovespa stock index fell 1.17
percent, as Petrobras shares dropped 3.55 percent on
lower oil prices.
(Reporting by Bruno Federowski; Editing by Lisa Von Ahn)