(Changes slug from MEXICO-PESO, adds background)
MEXICO CITY May 29 The Mexican peso
has seen a "favorable" trend, but is still subject to
volatility that requires authorities to be "cautious, careful
and responsible," Finance Minister Jose Antonio Meade said at an
event in Mexico City on Monday.
The peso was battered to a record low in January on worries
that U.S. President Donald Trump would slap tariffs on
But the currency has rallied back as Trump's administration
has taken a more conciliatory tone in talks with Mexico and
Canada to renegotiate the North American Free Trade Agreement
The peso was little changed on Monday, with low volume due
to the U.S. Memorial Day holiday, as it traded around 18.49 per
dollar, close to levels seen last week that were the strongest
since the surprise of Trump's November win.
The peso has been the best performing major currency with a
more than 12 percent gain this year.
(Reporting by Ana Isabel Martinez; Editing by Sandra Maler)