Another Win for Clinton, Another Rally In Mexican Peso – Short Positions on USDMXN
The Mexican peso inched up against the U.S dollar after the conclusion of the third and final debate between Democrat Hillary Clinton and Republican Donald Trump. Since the very first debate between the two presidential nominees, which was held on September 26th, the currency pair USDMXN has dropped by more than 7.4% (the peso has been strengthening).
All three direct debates have pointed to the possibility that Clinton will win the election scheduled on November 8th. As a result, the Mexican peso, which is sensitive to Trump’s fortunes, has rallied to its highest level since September 8th to hit 18.44760 per U.S dollar. Trump has previously pledged to renegotiate or even end the two-decade-old North American Free Trade Agreement, which could spell trouble for the Mexican economy as the U.S is its biggest single export market.
Mexican Peso Trade suggestion
Sell Limit at 18.51000, Stop loss at 18.60000, Take profit at 18.25000