Mexican peso hits one-month peak
On Monday, the Mexican peso soared as markets trimmed the chance of a victory by Republican nominee Donald Trump in his American presidential bid after his campaign was heavily rocked by crisis following a series of revelations he had made vulgar comments as for women.
The Mexican peso edged up 2% to 18.91 to the greenback at one point during early Asian trade, the highest value in almost a month and held on to the bulk of its revenues after the conclusion of a second presidential debate between Trump as well as his rival Hillary Clinton.
The peso pared some revenues and last traded at 19.06, still up more than 1% on the day.
Furthermore, there should be some unwinding of Trump trade in which market participants put on bearish bets on the Mexican peso against the safe haven Japanese yen.
Selling the Mexican peso vs. the Japanese yen as well as the Canadian dollar against the yen had both been quite popular.
Against the Japanese yen, the Mexican peso added up to 1.1% to 5.3910.