The Mexican peso is tumbling again

Markets Insider

The Mexican peso is getting slammed for the second day in a row.

The currency is down by 0.9% at 19.3514 per dollar as of 7:41 a.m. ET.

On Tuesday the peso was down as much as 1.9% against the greenback in late trade following the latest Washington Post/ABC News poll, which showed Republican nominee Donald Trump leading Democratic nominee Hillary Clinton by 1 point.

The peso has become something of a gauge of Trump's prospects over the last couple of months of the campaign. This sort of makes sense, given that Trump's anti-trade platform could have negative repercussions for the Mexican economy.

As for the rest of the world, here's the scoreboard as of 7:43 a.m. ET:

• The US dollar index is down by 0.4% at 97.36 ahead of the Federal Open Market Committee's latest policy decision announcement, which will be out at 2 p.m. ET. Fed fund futures data complied by Bloomberg shows just a 16.1% chance of a rate hike at Wednesday's meeting and assigns a 68.0% likelihood of a 25 basis point hike before the end of the year.
• The euro is up by 0.4% at 1.1099 against the dollar. Earlier, Markit manufacturing PMI for the eurozone rose to 53.5 in October, up from 52.6 in September and above the flash estimate of 53.3. Germany, meanwhile, recorded a print of 55.0 - the fastest growth in three years.
• The British pound is up 0.6% at 1.2314 against the dollar. "A fresh batch of pre-US election jitters has swept the markets this morning, investors fretting over news that Trump has taken the lead in a national poll," Connor Campbell, a market analyst at SpreadEx, told Business Insider.
• The Russian ruble is down 0.2% at 63.4729 per dollar, while Brent crude prices, the international benchmark, are lower by 1.4% at $47.47 per barrel.
• The Japanese yen is stronger by 0.8% at 103.28 per dollar

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