“If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting,” President Trump tweeted Thursday morning.
Shortly before 12 p.m. ET, Mexican President Enrique Pena Nieto did exactly that.
“This morning we have informed the White House that I will not attend the scheduled work meeting for next Tuesday with @POTUS,” Pena Nieto tweeted.
Then the peso fell fast, going down as much as 1.4%, a significant decline in just a few hours. It recovered some of its losses, but remained down by more than 1%.
One peso is currently worth less than 5 cents.