Dollar TODAY: At mid-election day in the US, the currency soars and shakes the Mexican peso

Halfway through the United States elections, the dollar it skyrocketed and shook the Mexican peso.

The Mexican currency in international markets trades around 20.32 pesos per dollarwhich means a depreciation of 1.17% or 23 cents compared to the previous day, its highest intraday level since September 2022according to information from Bloomberg.

Don’t miss: Follow LIVE all the details of the US elections

The retail dollar is located this Tuesday at 20.84 pesos for sale at the windows of Citibanamex branches0.34% or 7 cents above Monday’s close.

The above is due to the fact that the market is aware of the evolution of the voting in the United States.which take place today. In addition to the election of the president, the entire House of Representatives (435 seats) and one third of the Chamber of Senators (33 seats) will be elected.

Lee: Peso hits the dollar ahead of the US election; this is how it quotes this monday

If Trump wins, it will be the first time since 1892 that a president has lost his re-election race but then managed to return to power in the next election.

Trump’s advantage will put upward pressure on the exchange rate

Clear signs of advantage from the Republican candidate, Donald Trump, would put upward pressure on the exchange rate towards the resistance of 20.50 pesos per dollaras it has once again threatened to impose tariffs on products from Mexico.

Also, check: The dollar price for this Tuesday

On Monday, Trump said that, if he wins the elections, he will impose 25% tariffs on all products sent from Mexico, if the invasion of criminals and drugs into the United States is not stopped.. He stressed that, if the 25% tariff does not work, he could raise it to 100 percent.

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OA