The Mexican peso and the Trump trade

09/19/16 Financial Times 

pesoForget the opinion polls. The Mexican peso has become a better barometer of Donald Trump’s US election chances.

The New York magnate’s rebounding prospects have been mirrored by the sharp slump in the currency of the country the Republican says exports rapists and criminals, siphons off US jobs and will pay for a border wall to keep immigrants out.

On Friday — Mexico’s independence holiday — the peso slumped to its lowest-ever level against the US dollar, hitting 19.77, before regaining some ground. In London mid-session trade on Monday, it was trading around 19.60 to the dollar.

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