I did warn you that the peso had formed a ‘taco formation‘ and was about to break lower again, didn’t I? After news broke that FBI Director, James Comey had reopened the Hillary Clinton email investigation, both stocks and the Mexican peso plummeted in very heavy trading.

A Clinton win has been viewed as very bullish for Wall Street, as it meant status quo. Markets do not like uncertainty and a Trump presidency would be filled with a lot of that. Also, a Trump win would likely mean American policy would pivot towards protecting American jobs and not permitting companies to pick up and move to Mexico in order to take advantage of lower wages. Any time Trump gained momentum, the Mexican peso plummeted.

The dollar is crushing the peso in aggressive trading right now, as markets try to price in a potential Trump ascension.

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