Mexican Peso Rises After Trump-Clinton Debate, Pound Vulnerable Again

The Mexican peso and U.S. stock futures rose as investors saw less chance of Republican nominee Donald Trump winning next month’s presidential election, while sterling was under pressure after Friday’s “flash crash” in the British currency.

Futures on the S&P 500 ESc1 and Dow Jones industrial average 1YMc1 were up about 0.4 percent, suggesting Wall Street will open higher. U.S. stock markets are open on Monday, though the bond market is closed for the Columbus Day holiday

The pound initially dropped half a percent against a dollar boosted by expectations the Federal Reserve will raise interest rates in December even after weaker than expected jobs data on Friday.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam