{"id":38189,"date":"2023-05-08T16:36:07","date_gmt":"2023-05-08T16:36:07","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/mexican-president-backs-u-s\/"},"modified":"2023-05-08T16:39:16","modified_gmt":"2023-05-08T16:39:16","slug":"mexican-president-backs-u-s","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/mexican-president-backs-u-s\/","title":{"rendered":"Mexican president backs U.S. dollar as globe’s ‘principal currency’"},"content":{"rendered":"

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence on Monday after he was asked if a weakening greenback might spur a move to diversify Mexico’s foreign currency reserves.<\/p>\n

“We are going to continue considering the dollar as the world’s principal currency,” Lopez Obrador told a press conference. <\/p>\n

“We have sufficient reasons to not move to other currencies,” he said, underscoring Mexico’s “increasingly close” economic ties to the United States.<\/p>\n

The United States is by far Mexico’s largest trading partner, with both economies closely integrated over decades in sectors ranging from energy, autos and agriculture.<\/p>\n

The dollar remained weaker against most of its major peers on Monday as fears persist about a potential recession in the United States later this year. <\/p>\n

Asked if he would recommend that the central bank diversify Mexico’s foreign currency reserves, Lopez Obrador said that “even with a financial crisis in the future, the dollar would continue to be the most important currency in the world”.<\/p>\n

Despite concerns over recession, positive economic indicators helped push Mexico’s peso on Friday to its strongest level against the dollar since 2017. <\/p>\n

The Mexican president’s remarks follow comments from Brazil’s President Luiz Inacio Lula da Silva, a fellow leftist, in which he expressed support for an alternative to the U.S. dollar for trade in certain circumstances including within South America.<\/p>\n

\n

(Reporting by Brendan O’Boyle, Editing by David Alire Garcia, Editing by Angus MacSwan)<\/p>\n

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MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence on Monday after he was asked if a weakening greenback might spur a move to diversify Mexico’s foreign currency reserves. “We are going to continue considering the dollar as the world’s principal currency,” Lopez Obrador told a […]<\/p>\n","protected":false},"author":8,"featured_media":38190,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-38189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ470J0-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/38189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=38189"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/38189\/revisions"}],"predecessor-version":[{"id":38191,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/38189\/revisions\/38191"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/38190"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=38189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=38189"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=38189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}