CNBC: The Mexican peso tumbled against the U.S. dollar as Hillary Clinton conceded the presidential election to Donald Trump.
“Shock and awe in the FX markets. We’re having painful flashbacks to Brexit — no one is entirely sure where the bottom is at the moment, so most participants are in a ‘sell first, ask questions later’ mood,” Karl Schamotta, director of FX research and strategy at Cambridge Global Payments, said in an email.
The peso was near 20.18 versus the greenback as of 2:40 a.m., ET, Wednesday morning, after hitting a record low earlier in the session.
Let’s see. I’m trying to figure out how this affects me. Meh. Don’t see it. It’s bound to be a good thing, though.
I foresee a run on tequila.
And Oreo cookies.
This means the wall just got at least 10% more expensive for Mexico overnite. Their currency has been falling against the dollar since October 2014, so this isn’t solely because of Trump election.
@cracker, Rest assured Trumps going to get the blame; .FOR EVERYTHING.
Didn’t the mexicans do a 1:5 devaluation in 2000?
This should put the peso in the realm of Lira … or Yuan …
Gives them a trade advantage? Or not?
izlamo delenda est …
About that image MJA…
I’m sorry for the Mexican people, but only they can overthrow the corruption that IS their country.
Since I do business there, selling against a Mexican competitor, this will have a negative impact on my business. But it’s a small, small price to pay.
And the Dow Jones is UP right now at the open. So much for financial panic.
Ultimately, the stock market doesn’t give a flip about any party being in charge.
They just adjust their sails to keep making money. The Dow plunged drastically when O was elected. Sail trimming to catch the new breeze.
Non-story panic-wise.
LocoBlancoSaltine- heeheehee.
That dog is so cute, though. 😀
Trump has declared that he is changing the Mexican Peso to the Mexican Pepe .
Two of the biggest single day sell offs in Dow Jones’ history occurred the day after Obama was elected and re-elected.
I expect the “economy” to dive some for the first and maybe the second qtr next year as the recession finally hits bottom and starts a very robust real recovery. All those financial institutions that paid Hillary big bux for 20 min “speech’ won’t get QE monies from the Fed anymore. They’ll have to earn their profits the old-fashioned way. Work for it.