IG Securities, the Japanese subsidiary of electronic trading major IG Group, has increased the margin requirements for currency pairs including the Mexican peso (MXN).
The change affects MXN/JPY, USD/MXN, EUR/MXN, and GBP/MXN.
The new margin rate is 7.5% and will apply to positions in the above-mentioned pairs opened after 5:45 p.m. Today (local time). The margin rate on existing positions in these instruments remains unchanged.
The broker said the change stems from President Trump’s announcement that he is considering imposing 25% tariffs on Mexico. This announcement is set to fuel volatility of Mexican peso-related pairs.