The Mexican Peso and the Japanese Yen are the best currencies to watch for a view on the 2016 U.S. presidential election, and they are pointing to Trump.
The market was predicting a Clinton win, but everything is shifting.
As Republican nominee Donald Trump strengthens his position in key states, the Mexican Peso is plummeting against the U.S. Dollar, and the Dollar is tanking against the Japanese Yen. The Peso regularly falls in response to Trump successes. When the FBI reopened the case against Hillary, the Peso dropped 4 percent. The Yen typically rises in periods of instability.
The breakdown is as follows: MXN/USD dropped from .05484 to .0506 and USD/JPY is down to 101.32 from 105.24. There have been only minor upticks.
Pitting the Trump-sensitive Peso against the safe Yen creates a graph that rises with Hillary Clinton’s wins and falls with her losses. Earlier in the day on Tuesday, Nov. 8, the trend was on the rise, but right now, the trend is dropping at an alarming rate.
MXN/JPY crashed to 5.17 from 5.77. When the FBI said that the reopening of the FBI case against Clinton has produced no new results, the Peso rose 4 percent against the Dollar and 6 percent against the Yen.
The dramatic shifts in the Peso and the Yen indicate that the Asian markets are strongly predicting a Trump victory over Clinton.
The New York Times is predicting a 87 percent chance of a Trump victory.
Follow Ryan on Twitter
Send tips to ryan@
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.