Peso hits two-month high on Election Day

The Mexican peso hit a two-month high Tuesday, reflecting investor confidence that Democratic nominee Hillary Clinton will be elected president.

The peso climbed for the fourth straight day, notching a 0.6 percent rise, to just under 18.5 per dollar.

Mexico’s currency has risen and fallen with Clinton’s chances of winning the White House. Investors see danger to Mexico’s economy in a Donald Trump presidency because the Republican’s immigration and trade policies could hamper the country’s labor force and export market.

U.S. stocks have also rallied. The Dow Jones industrial average was up 130 points by 12:30 p.m. Tuesday, while the Nasdaq and Standard & Poor’s 500 index climbed 0.8 percent and 0.6 percent respectively. 

Monday brought even better numbers. The Dow spiked 371 points on the first day of trading after FBI Director James Comey reaffirmed that Clinton wouldn’t face charges related to the private email server she used as secretary of State.

The S&P 500 and Nasdaq both also rallied, each climbing over 2 percent on Monday.

Monday’s spike reversed days of falling stocks, triggered by Comey’s  Oct. 28 announcement that more of Clinton emails were discovered in an unrelated investigation. Stocks also sank as Clinton’s lead over Trump also narrowed, mainly due to Trump coalescing Republican support.

Investors have long seen Clinton as a safer pick for stock performance. Her more than two decades in politics, defined policy platform and the expected gridlock with House Republicans make her the more predictable choice.

Trump’s promise to shake up the political and economic systems, his temperament and minimal policy platforms mean more uncertainty, which often tempers investment.