Fitch: Trump's victory could trigger large-scale dumping of emerging market currencies

Jinshi Data News on November 6th, BMI, a subsidiary of Fitch, stated that Trump’s victory could trigger a large-scale dumping of emerging market currencies, and the Mexican peso could be the most severely impacted. It pointed out that after Trump unexpectedly won in 2016, 57 of the 61 most widely traded currencies depreciated against the US dollar. The agency said that the peso immediately depreciated by 11% afterwards, setting a new low at the time. BMI predicts that if Trump wins this time, the peso will depreciate by about 9% against the US dollar by the end of 2024.

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