(Bloomberg) -- Another reflation trade has just about fallen over: Mexico's peso is within about 1 percent of the high it reached on Nov. 9 when traders were betting that Hillary Clinton was poised to win election as the 45th U.S. president. Donald Trump's victory set off an 18 percent tumble that sent the currency to unprecedented lows on concern he would carry out campaign promises to scrap free-trade deals, crack down on illegal immigration and build a wall along the U.S.'s border with Mexico. The peso's collapse has proven short lived, as Trump sounds more conciliatory on trade and the Mexican central bank raises interest rates with the economy gathering momentum.
To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net.
To contact the editor responsible for this story: Jake Ulick at julick@bloomberg.net.
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