Mexican peso faces uncertainty as US election approaches

The Mexican peso is trading within a narrow range as the U.S. election approaches. Traders are preparing for a potential win by former President Donald Trump, who could weaken the peso to over 21 per dollar, a level not seen in over two years. Currently, the peso hovers around 20 per dollar, significantly above its pandemic low of 25 but below its high of 16.50 earlier this year. Analysts expect the peso to remain stable until election day, with potential volatility afterward. A victory for Vice President Kamala Harris could strengthen the peso to about 18.50 per dollar. However, a close election result could lead to uncertainty and increased volatility, prompting possible intervention by the Mexican Exchange Commission.