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MARKETS LIVE BLOG:

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The Mexican peso is soaring after Trump's inauguration

Jonathan Garber

The Mexican peso is higher by 1.85% at 21.5464 per dollar following the inauguration of President Donald Trump, and is the best performing currency in the world on Friday, according to a tweet from Bloomberg's Joe Weisenthal.

The currency became something of a gauge of Trump's prospects during the months leading up to the election as he railed against Mexico for taking American jobs and killing the US on trade.

When traders thought Trump's prospects of winning went up, the peso often went down against the US dollar - and vice versa.

The peso is down about 18% against the US dollar since the election and trades near its all-time low of 22.0385.

Mexican peso
Mexican peso

(Markets Insider)

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