I am trying to wrap my mind around this NAFTA issue, but I can't understand it......

When the new trade agreement with Mexico was announced, the Mex Peso made a huge jump up. Does this mean this deal is more beneficial to Mexico than to the US?

Along the same line of questioning, I took a look at the long term chart of the Mexican Peso. The Peso had been in a bear market for many years. When Trump surprisingly won the election, it ended the long bear market. Everybody knew that he would cancel NAFTA, and, yet, the Peso went up. Does this not mean that the old NAFTA deal was bad for Mexico (and not the US)?

Any insight from any of you guys would be appreciated.