USD/MXN jumps 2% on FBI Clinton probe

Matías Salord FXStreet

The Mexican peso collapsed in the market after the FBI said that it uncovered new emails related to the closed investigation into whether Hillary Clinton mishandled classified information.

USD/MXN jumped from 18.70 to 19.09, hitting the highest level since October 7. After a few minutes, the pair eased and it was hovering slightly below 19.00, still sharply higher for the day.

The Mexican currency was the most affected after the FBI story hit the wires. The US dollar dropped sharply in the market and equity price in the Wall Street fell to new daily lows, although during the last minutes they have recovered. The moves in the pair reflected that many investors, consider that Donald Trump odds of winning the elections have risen.

USD/MXN is about to end the week higher, ending a 4-week bearish correction, that brought the price from record high levels near 19.90 to 18.45. The area around 18.50 was tested on Tuesday but the peso failed to break lower and bounced to the upside.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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