If the Mexican peso is any indication, the foreign exchange market seems pretty sure Democratic presidential candidate Hillary Clinton beat her opponent.
Throughout the course of the 90-minute debate which veered widely on issues ranging from Republican candidate Donald Trump's possible failure to pay taxes to Clinton's email server, the Mexican peso surged against the U.S. dollar.
The greenback was fetching 19.5360 Mexican pesos at 10:48 a.m. Wednesday HK/SIN, down from as high as 19.92 pesos before the debate began; that was the lowest for the peso since at least 1989, according to Reuters data. That compared with levels below 17 pesos around the beginning of the year.
Analysts said that was a sign the foreign-exchange market was calling the debate a win for Clinton.
"The peso has come up because the market has judged the odds of Trump winning have gone down," said Ray Attrill, co-head of foreign-exchange strategy, at National Australia Bank. "The peso has been the weapon of choice for betting on Trump winning."
That's because of Trump's positions of greater trade protectionism. He's called for repealing NAFTA, the U.S. trade agreement with Mexico and Canada, and has said he would impose punitive tariffs on Mexican goods imported into the U.S.