Dollar strengthens against Mexican peso as traders react to early voting results

The 24-hour currency market reacted to Tuesday night’s early voting results in favor of former President Donald Trump, sending the dollar higher against the Mexican peso.

Just after 8 pm ET, the dollar was up more than 1% against the peso, according to LSEG data. Live from The Associated Press, Trump received 95 Electoral College votes and Vice President Kamala Harris had 35. Mexico is considered one of the likely losers from Trump’s proposed trade tariffs.