Mexico's peso firms after report US dropped key NAFTA demand

MEXICO CITY: Mexico's peso firmed more than 1 percent on Wednesday after a report that the US government has dropped a key demand in the renegotiation of the North American Free Trade Agreement.

US President Donald Trump's administration dropped a demand that all vehicles made in Canada and Mexico for export to the United States contain at least 50 percent US content, the Globe and Mail reported on Tuesday, citing sources.

Mexico's peso firmed as much as 1.35 percent to 18.516 per dollar early on Wednesday, before weakening slightly to 18.535 per dollar.