July 3, 2018 / 9:20 AM / in 4 months

Mexico's peso jumps more than 1 pct on NAFTA optimism

LONDON, July 3 (Reuters) - Mexico’s peso strengthened more than 1 percent on Tuesday against the dollar after an advisor to incoming President Andres Manuel Lopez Obrador said the election win would jumpstart talks to renegotiate the North American Free Trade Agreement (NAFTA).

After weakening for the past two sessions, the peso strengthened to 19.7167 to the dollar, according to Thomson Reuters data.

Jesus Seade, Lopez Obrador’s chief negotiator for NAFTA, said the talks to revamp the 24-year-old pact had been hindered by uncertainty over the outcome of the Mexican election, and would accelerate following Lopez Obrador’s decisive win on Sunday. He stressed an agreement was possible before the next government takes power in December.

U.S. President Donald Trump and Lopez Obrador also discussed immigration, trade and security issues in a phone call on Monday. (Reporting by Karin Strohecker, editing by Claire Milhench)

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