Mexican peso edges up after Clinton, Trump clash in first debate
On Tuesday, the Mexican peso went up during Asia trade, buoyed by the view that American presidential candidate Hillary Clinton performed better than her rival Donald Trump in a closely-watched television debate.
The Mexican peso managed to gain up to 2% on the day to 19.488 to the greenback, thus putting it on track for its best daily outcome since February. On Tuesday, the peso ascended to 19.4805 at one point.
There seems to be some profit-taking of long greenback positions taken against the Mexican major currency.
The peso has achieved record minimums in recent days, following worries that Trump’s victory would threaten Mexico's exports to America, its single biggest market.
On Friday, data from the US Commodity Futures Trading Commission demonstrated that currency speculators had recently increased their bearish bets against the Mexican peso.
Clinton might have been seen as doing better than firstly expected, thus helping to lift risk-sensitive currencies as well as assets, which had retreated ahead of the debate.