Washington wants military action against fentanyl labs in Mexico – New York Times

Sagar Dua FXStreet

The New York Times (NYT) reported during European trading hours on Thursday that the United States (US) is pressing Mexico to allow its military forces to fight against drug cartels.

Additional remarks

The US wants US military to dismantle fentanyl labs in Mexico.

US is pressing Mexico to allow US forces to fight cartels.

Market reaction

The Mexican Peso (MXN) faces selling pressure after the US unveils plans for military action in Mexico. USD/MXN gains sharply to near 17.81 as of writing.

The table below shows the percentage change of Mexican Peso (MXN) against listed major currencies today. Mexican Peso was the weakest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	MXN	CHF
USD		0.05%	-0.00%	-0.11%	0.16%	-0.19%	0.02%	0.03%
EUR	-0.05%		-0.06%	-0.17%	0.11%	-0.24%	-0.04%	-0.02%
GBP	0.00%	0.06%		-0.11%	0.17%	-0.18%	0.02%	0.03%
JPY	0.11%	0.17%	0.11%		0.26%	-0.08%	0.13%	0.13%
CAD	-0.16%	-0.11%	-0.17%	-0.26%		-0.34%	-0.14%	-0.13%
AUD	0.19%	0.24%	0.18%	0.08%	0.34%		0.20%	0.21%
MXN	-0.02%	0.04%	-0.02%	-0.13%	0.14%	-0.20%		0.00%
CHF	-0.03%	0.02%	-0.03%	-0.13%	0.13%	-0.21%	-0.01%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Mexican Peso from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent MXN (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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