Published On: Thu, Oct 20th, 2016

Peso holds steady after third U.S. presidential debate

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Mexico’s peso traded in line with emerging-market peers after the third U.S. presidential debate, signaling traders saw nothing in the matchup that changed their perception of who is likely to win the election, Bloomberg News reported.

The currency was little changed at 18.5241 per dollar as of 6:35 a.m. Thursday Oct. 20 in New York, paring gains of as much as 0.4 percent in the immediate aftermath of the debate. A gauge of emerging market currencies slipped 0.1 percent.

Donald Trump and Hillary Clinton at third presidential debate. (PHOTO: HipHopDX)

Donald Trump and Hillary Clinton at third presidential debate. (PHOTO: HipHopDX)

Mexico’s peso has reflected investor anxieties before this year’s U.S. election, often falling when Donald Trump’s campaign appears on the upswing and gaining when Hillary Clinton advances. In the third debate, the Republican candidate repeated his pledge to renegotiate the North American Free Trade Agreement if he’s elected. His recent struggles have been a boon for peso bulls: the currency is up about 7 percent since the first presidential debate in late September, the biggest gain among its major peers.

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Source: bloomberg.com

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