The Mexican Peso Begins the Week with a Drop Following Attack on Donald Trump

The local currency fell in line with its regional peers as traders bet on Donald Trump’s return to the White House following the attack against him.

The Mexican peso started the week with a loss. The local currency dropped in line with its regional peers as traders bet on a victory for Donald Trump in the election following the attempted assassination of the Republican candidate over the weekend.

The exchange rate closed the session at 17.7649 units. Compared to a closing rate of 17.6223 pesos on Friday, according to the official data from the Bank of Mexico (Banxico), this movement represented a decline of 14.26 cents, equivalent to 0.81%.

The dollar price fluctuated within an open range, with a maximum of 17.8597 units and a minimum of 17.6793. The Dollar Index (DXY) of the Intercontinental Exchange, which measures the greenback against a basket of six currencies, rose by 0.13% to 104.23 units.

Following the weekend attack on the Republican candidate, traders see it as more likely that Trump will win the U.S. presidential election. These speculations come amid doubts about Joe Biden’s age.

The prospects of Trump’s return to the White House after the attack during a campaign rally in Pennsylvania have heightened concerns about the potential impact of his protectionist policies, several financial market experts agreed.

In Mexico’s specific case, Trump as president would be unfavorable regarding issues like tariffs and the fight against organized crime, which could harm the country in various economic sectors. The exchange rate showed volatility and erratic movements after the attack in Pennsylvania against Donald Trump, who was giving a speech when a shooter injured him in the ear.