The Mexican peso tanked after Republican candidate Donald Trump won the US presidential elections, and the currency continued sinking today.
The United States are the biggest trading partner of Mexico, therefore have a big impact on the Mexican economy. And it is widely held view that Trump’s policies will be negative to Mexico. In particular, Trump wants to scrap or renegotiate the North American Free Trade Agreement which was immensely helpful to the economies of Mexico and Canada.
USD/MXN surged as much as 3.64% to 20.5777 as of 22:19 GMT today.
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