President Trump's Speech on Immigration at the Department of Homeland Security Sends Mexican Peso Soaring Against Dollar

The Mexican peso strengthened against the US dollar by almost 1.77 percent in the minutes following President Trump’s speech at the Department of Homeland Security.

In his speech, Trump said he signed two executive orders today that will curb illegal immigration and stem the flow of illegal cash and narcotics to and from Mexico, “A strong and healthy economy in Mexico is very good for the United States,” said President Trump.

Trump’s executive orders also call for the building of a wall, as well as the termination of the practice of catch-and-release at the southern border:
“The secretary of DHS, working with myself and my staff, will begin immediate construction of a border wall. This will also help Mexico by deterring illegal immigration from Central America and by disruption violent cartel networks.”
Additionally, Trump’s executive actions call for beefing up border patrol with 5000 new officers and tripling the amount of ICE agents. A crackdown is also planned for so-called ‘sanctuary’ cities like New York, San Francisco, Washington, Chicago, Boston and Miami.

According to the President's speech, a new division at the DHS will be dedicated to supporting the victims of illegal immigrant crime.

While his speech focused mostly on dealing with stemming the flow of illegal immigrants and the construction of the wall, President Trump also outlined the potential economic benefits of his new policies for Mexico. “Starting right now, we’ll improve the safety in both of our countries. It’s going to be very, very good for Mexico,” said President Trump.