Market Insider

Mexico and Trump: Traders are going to keep watching the peso after the election

A board displaying the exchange rates of Mexican peso against the U.S. dollar and the euro is seen at a foreign exchange house at the international airport in Mexico City, Mexico November 8, 2016.
Henry Romero | Reuters

Investors watched the Mexican peso closely throughout the presidential campaign, and they're going to keep watching it — for entirely new reasons.

"Dollar-MXN has been the 'Will Trump win?' trade, and now it's the 'Was he serious?' trade," said Adam Button, managing director at

Trump has called for building a wall on the Mexico-U.S. border, threatened to round up and deport illegal immigrants, and has even said he would go as far as withdrawing the U.S. from the North American Free Trade Agreement.

In contrast to continued weakness in the peso Wednesday morning, U.S. stocks attempted slight gains with health care and financial stocks among the top performers. Dow futures had briefly dropped 800 points overnight.