After President Trump's plans for renegotiating NAFTA and building a border wall have monkeyhammered the Mexican Peso to record weakness, it appears Banxico has found a friend to help defend its currency - The Fed.

Bloomberg reports that, according to three people with knowledge of the discussions, Banxico is considering requesting swap line with Fed to ensure liquidity in peso trading should volatility jump.

And The peso is surging...

Swap lines, similar to those used in 2008-2009 financial crisis, are being considered in addition to other liquidity measures, the people said.

A fourth person said interest-rate swap auctions have been prepared in case Mexico needs to bolster bond market in future.

All four people declined to be named because they aren’t authorized to speak publicly about the matter.

Banxico Governor Agustin Carstens was scheduled to meet with Fed Chair Janet Yellen earlier this week, according to one of the people.

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We wonder just what President Trump will make of the fact that Janet Yellen is 'helping' the Mexicans?