Asian markets were mostly higher in the afternoon and the Mexican peso strengthened against the dollar on Thursday following the conclusion of the final U.S. Presidential debate.
The Mexican peso, which has been closely watched in the election cycle as a barometer of the markets' perceived likely outcome, strengthened to as high as 18.44 against the greenback from levels near 18.51 before the start of the debate. Earlier this week, the currency pair traded over 19.00.
"The Mexican Peso recovered its losses against the dollar and this is traders showing their decision that [Republican nominee Donald] Trump has yet lost another debate," said Naeem Aslam, chief market analyst at ThinkMarkets, in a note. Trump's rhetoric has at times taken a hard line on trade and immigration from the U.S.'s southern neighbor.
As of 2:35 p.m. HK/SIN, however, the currency retreated near levels before the debate, trading at 18.52.
U.S. Presidential nominees Donald Trump and Hillary Clinton debated on a range of topics from Russian involvement in election hacks to immigration and the appointment of Supreme Court justices in a session moderated by Chris Wallace of Fox News.
Aside from the debate, it was a relatively data-light session in the region, though employment numbers in Australia came in lower than expected.
Data from the Australian Bureau of Statistics showed that in September, the total number of jobs decreased by 9,800, widely missing a Reuters poll that predicted an increase of 15,000 jobs, as full-time employment fell by 53,000 jobs, while part-time employment rose. At the same time, the unemployment rate also fell by 0.1 percentage-point on-month to 5.6 percent and the labor-force participation rate dropped.
"The net effect of all these factors has been a slight increase in the implied probability of a November rate cut to 19 percent, as priced in the swaps market," said Chris Weston, chief market strategist at spreadbettor IG, in a note.
"Personally, I don't think this employment report will push the Reserve Bank of Australia to think more seriously about further rate cuts, but there's no doubt it's a poor number," Weston said, adding things could get interesting if the third-quarter inflation report due next week turned out weak.