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Mexican peso drops 1% against US dollar after Clinton email news

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Markets reacting with increased chance of Trump victory

The Mexican peso fell more than 1 percent against the U.S. dollar after it was revealed Friday afternoon that the Federal Bureau of Investigation is looking at new emails related to Hillary Clinton.

"The market is worried about two things. One, a higher chance that Hillary loses the election. Two, you (could) have a president-elect who's under investigation by the FBI. Even if it doesn't change the election result, it adds some uncertainty in the election aftermath and certainly increases the division in America," said Adam Button, currency analyst at ForexLive.com.

The Mexican peso is generally viewed as a good gauge of how markets are perceiving the U.S. presidential election. Donald Trump has called for the construction of a wall on the Mexico-U.S. border, and has said he would go as far as withdrawing the United States from the North American Free Trade Agreement.

The fell more than 1.5 percent in Friday afternoon trade.