The peso could recover “quite a lot” if Mexico and the U.S. can reach a sensible agreement - U.S. Commerce Secretary Wilbur Ross

U.S. Commerce Secretary Wilbur Ross, in an interview on CNBC, said that he believes that if the Americans and the Mexicans make a very sensible trade agreement, the Mexican peso will recover quite a lot. 

Key quotes (via Bloomberg)

• The peso has fallen a lot, mainly because of the fear of what will happen with Nafta
• The first trade priority of Donald Trump’s administration is to re-negotiate Nafta
• The first emphasis will be on facilitating U.S. exports to other countries, getting rid of both tariff and non-tariff barriers to trade
• The U.S. isn’t talking with China yet about trade
• Germany has been an “enormous beneficiary” of the weak euro, though it’s not currency manipulation