The Mexican peso is at its strongest level since the day after Trump’s election.
The currency is up by 1.4% at 19.6436 per US dollar as of 3:33 p.m. ET on Thursday, after US Secretary of State Rex Tillerson met with Mexican officials.
“Let me be clear, there will be no mass deportations, everything we do in DHS will be done legally,” Tillerson said during a press conference after his meeting with Mexican Foreign Minister Luis Videgaray. “The focus of deportation will be on the criminal element, all of this will be done in close coordination with Mexico.”
The peso saw a tumultuous autumn and ended up being one of the big market casualties of the 2016 election. It crashed by about 13% to about 20.6879 per dollar after polling data suggested that US President Donald Trump won the election during the night of November 8-9.