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Currency markets were cooling off on Friday after confusion around the Trump administration’s position on Nafta drove heavy trade in North American currencies during the previous session.

The Mexican peso was 0.3 per cent weaker at 19.0769 per dollar after strengthening as much as 1.5 per cent on Thursday on news the US would not immediately pull out of the North American Free Trade Agreement. The Canadian dollar was trading flat at C$1.3634 after firming as much as 0.6 per cent the previous day only to close 0.1 per cent weaker.

The dollar index tracking the greenback against a basket of peers was up 0.1 per cent at 99.155

Japan’s yen was 0.2 per cent firmer at ¥111.12 per dollar after a slew of data released on Friday morning showed consumer inflation held steady in March but industrial production contracted more sharply than forecast. The Australian dollar was flat at $0.7466.

Copyright The Financial Times Limited 2017. All rights reserved.

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