Mexican peso rallies as Donald Trump falters

The Mexican peso rose against the dollar as Donald Trump’s chances of winning the White House seemed diminished after the second pre-election debate with Democratic Party candidate Hillary Clinton.

Mr Trump has vowed to build a wall on the border with Mexico and renegotiate or scrap the North American Free Trade Agreement if he is elected, making the peso somewhat of a barometer of his chances.

The Mexican currency rose at one stage 1.9% to 18.97 against the dollar.