Mexican Peso Off All-time Low Against U.S. Dollar

The Mexican Peso came off from an early record low versus the U.S. dollar in the European session on Wednesday, amid expectations that the central bank may announce measures to curb the currency's free-fall after Trump's victory.

The Mexican central bank and the finance ministry is holding a joint conference, with markets expecting some emergency measures to protect the Mexican economy.

The Mexican Peso had fallen sharply in the Asian session, after Trump shocked markets with a majority victory in the U.S. Presidential elections held on Tuesday. The Republican had vowed to renegotiate the trilateral North American Free Trade Agreement, or NAFTA, between the U.S., Canada and Mexico, which would curb trade relations with the nation.

The Mexican Peso was trading at 19.70 per dollar, off its early fresh record low of 20.77. The currency has set a 2-1/2-month high of 18.16 early in the Asian session. The next possible resistance for the Mexican Peso is seen around the 18.00 zone.