Gloomy forecasts for the Mexican peso dynamics starts coming true. It is not surprising given that Mexico has enough reasons to worry with the world’s leading super-power in neighbors. Donald Trump’s unexpected victory hit the Mexican national currency hard. Mexico is the first country to experience all the consequences of the new presidency.
The billionaire affected the situation in Mexico several times during his campaign trial. Trump’s statements caused a record slump in the currency to new all-time lows. The Mexican peso lost over 10% in a single day ensuring itself a place among worst currencies of emerging markets. Trump strongly opposes migration. To resolve this issue, he even promised to build a wall alongside Mexico’s border with the United States.
However, some analysts are sure that the peso’s nosedive is temporary. The peso’s tumble on the back of the Republican nominee’s victory attracted a lot of traders willing to reap short-term profits. Therefore, once the fuss fades away, the situation could change.
