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Mexican peso sheds 0.5% amid election uncertainty

The biggest move in Asia Pacific forex trading came courtesy Mexico’s peso, as a key state election remained too close to call.

Mexico’s peso was the biggest mover among international currencies, dipping 0.5 per cent to 18.7777 per dollar amid uncertainty surrounding the outcome of a key gubernatorial election for the State of Mexico in which both sides were claiming victory ahead of official results.

The pound was off 0.2 per cent at $1.2868 following terror attacks in London at the weekend that left seven dead and 48 injured.

In Asia Pacific currencies the yen had weakened 0.1 per cent to be ¥110.52 per dollar, while the Australian dollar was up 0.1 per cent against its US counterpart at $0.7447.

The South Korean won was up 0.3 per cent against the greenback at Won1118.7 per dollar after the cabinet of President Moon Jae-in approved a $10bn extra budget plan to create more jobs, in line with Mr Moon’s campaign pledge to prioritise employment.