Mexican peso spikes after presidential debate as Donald Trump fails to impress

The currency isconsidered to be an estimate of Donald Trump’s prospects in the campaign - falling when the Republican candidate advances in polls and gaining when he slumps

Zlata Rodionova
Thursday 20 October 2016 08:17
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The final Presidential Debate in 90 seconds

The Mexican peso, has reached a six-week high after the third and final American presidential debate which saw Hilary Clinton leaving as the favourite.

The currency has become considered to be an estimate of Donald Trump’s prospects in the campaign - falling when the Republican candidate advances in polls and gaining when he slumps.

Trump's radical positions on Mexican migration and trade could severely disadvantage the US's southern neighbour if he wins, so a stronger Mexican peso reflects lower market expectations of a Trump win.

The peso, already trading higher against the US dollar following Trump's drop in the polls over the past weeks, received another boost at the end of the debate, rising to a peak of 18.455 pesos against the US dollar.

It was little changed at 18.5196 per dollar as of 6:22 am in London.

"The Mexican Peso recovered its losses against the dollar and this is traders showing their decision that has yet lost another debate," said Naeem Aslam, chief market analyst at ThinkMarkets, in a note.

Despite a fiery debate, on topics including women’s rights, Russian involvement in election hacks to immigration the final presidential debate in Las Vegas was the most substantive policy discussion so far between Hillary Clinton and Donald Trump.

In a historic first, Trump has said he may not accepts results of the general election on November 8.

“I will look at it at the time,” Trump said. “What I have seen is so bad. First of all, the media is so dishonest and corrupt and the pile-on is amazing.”

The media, he said, has “poisoned the mind of voters.”

A CNN snap poll conducted immediately afterwards found that it had been a closer contest than the previous two debates, but that once again Clinton was considered the winner, by 52 per cent to 39 per cent.

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