Market News
Volatile Mexican peso hits 2-year low, traders lean toward Trump win - REUTERS
By Noe Torres
MEXICO CITY, Nov 5 (Reuters) - The Mexican peso sank against the U.S. dollar as results in the U.S. presidential election rolled in, extending a streak of volatility which has hit the currency in recent days.
The peso dropped as low as 20.7710 per dollar for the first time since August 2022, about 3.2% weaker than its closing price from the previous session.
The peso's weakness came as traders priced in the possibility that Republican Donald Trump could defeat Democratic candidate Kamala Harris. Trump has vowed to impose new tariffs on Mexican exports.
