• The Mexican Peso depreciates as traders price in an ever-increasing risk of Donald Trump winning the US presidential elections.
• Such a victory would likely lead to higher tariffs on foreign imports, negatively impacting Mexico. 
• Banxico Governor Victoria Rodríguez Ceja raises the possibility of interest-rate cuts coming down the track

The Mexican Peso (MXN) continues creeping lower in its most traded pairs on Tuesday as concerns mount that former US President Donald Trump could win the US presidential election in November and raise tariffs on Mexican imports. Meanwhile, commentary from Bank of Mexico (Banxico) Governor Victoria Rodríguez Ceja suggests the bank is moving closer to cutting interest rates, another negative factor for MXN. 

One US Dollar (USD) buys 18.43 Mexican Pesos at the time of writing, whilst EUR/MXN trades at 19.74, and GBP/MXN at 23.28.