The Mexican peso climbs after the jobs report

The Mexican peso is climbing after the final jobs report before the November 8 election.

The currency was up by 0.2% at 19.1343 per dollar as of 9:20 a.m. ET after earlier being in the red.

The October jobs report showed that the US economy added 161,000 jobs in October, fewer than expected.

On the positive side, though, the unemployment rate came in at 4.9%, and wage growth was stronger than expected. Average hourly earnings rose 0.4% month-on-month (+0.3% forecast) and 2.8% year-on-year (+2.6% estimated.)

The peso has become something of a gauge of Donald Trump’
s chances over the past couple of months of the campaign given that the Republican candidate’s protectionist platform could have negative repercussions for the Mexican economy.

The currency has had a topsy-turvy week. It weakened against the greenback on Tuesday and Wednesday after a Washington Post-ABC News Tracking Poll put Trump in the lead by 1 point, and then jumped back up on Thursday after the latest iteration of the poll had Hillary Clinton in the lead again.

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