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Emerging markets rallied Tuesday, with the Mexican peso surged more than 2% in the wake of the verbal sparring match, Reuters reported. That may be a result of the fact that the markets see Clinton as the winner in the first debate, and the Democratic candidate is seen as the safer choice in terms of maintaining the status quo. Investors view the Republican Trump, on the other hand, as a volatile option whose presidency leaves many unanswered questions, such as the direction of U.S. foreign policy and the domestic policy.
Before the debate, the peso had reached new lows amid concerns that a Trump presidency might harm exports to the United States, its biggest market. But that changed soon after the candidates began sparring on Tuesday night. "Markets started to call the debate for Hillary within the first 15 minutes or so, with the Mexican peso surging in what is probably its busiest Asian session in years," Sean Callow, a senior currency analyst at Westpac in Sydney, told Reuters.