USD/MXN bears and Mexico off the hook after Trump's latest feminist blunder

USD/MXN is a solid offer in the early Asia on the back of Trumps feminist comments on the weekend that have made the odds move further towards a Clinton victory in November's election.

USD/MXN dropped from 19.25 down to 18.93 on an opening bearish gap and has remained below the 19 handle since and will likely have a hard time in recovering while we now await the second presidential debate which should be cinch for Clinton on the back of recent developments in Trump's own party.

Election Update: second presidential debate, coming up - Nomura

Trump was already on thin ice, but Republican leaders have begun to abandon him after the release of the video showing him speaking about women in vulgar sexual terms that have plunged the party into crisis a month before the election with a group of senators and House members with drawing their support for him. As a result, the peso is likely to remain in its reversal from mid August's rally to 19.92, currently testing the support of late August's resistance at 18.91. A break there will open up 18.67 and 18.26, 8th of September lows. The 50 sma on the upside at 19.3264 comes as a key resistance ahead of 19.6660.