Market Insider

Peso jumps 1% against US dollar amid debate

Peter Nicholls | Reuters

The Mexican peso reversed losses against the U.S. dollar to trade up more than 1 percent against the greenback amid the presidential debate between Hillary Clinton and Donald Trump on Monday.

"So far, with about half the debate to go, in the polls Hillary could benefit from the debate and that's what happened with the peso," said Andres Jaime, global FX and rates strategist at Barclays.

"From what I've heard I don't think there's a single statement that moved the market. Most of the debate (so far) it's clear how there's a lack of proposals to get to the goals Trump is proposing," he said. "Hillary, despite having a higher expectation to beat I think she does quite well in terms of laying out, not perfectly, but describing how she wants to get things done."

The U.S. dollar index traded a touch higher near 95.36, strengthening against the euro and Japanese yen. The euro was steady near $1.125 and the yen weaker around 100.7 yen versus the greenback as of 10:04 p.m. ET.

The Mexican peso has hit all-time lows against the U.S. dollar in the last few days as Donald Trump appeared to gain momentum in election polls.

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