Mexican Peso attempts recovery from fresh historical lows, likely to remain under heavy pressure

Trump's threats to scrap up a free trade agreement with Mexico and tax money sent home by migrants to pay for building a wall on the southern U.S. border have made the peso particularly reactive to events in the U.S. presidential race.

The Mexican peso collapsed after Republican Donald Trump in an unexpected turn of events beat Democratic rival Hillary Clinton to take the U.S. presidency. The surprise victory wreaked havoc in global markets.

The peso weakened by more than 13 percent, its biggest fall since the 1994 Tequila Crisis to hit fresh historical lows. Mexico's central bank has called a joint press conference with the Finance Ministry for 0700 local time (0800 EST/1300GMT).

Mexican central bank head Agustin Carstens last week said the country was ready in case of an "adverse" result in the U.S. election. The central bank has already hiked its rate three times this year to anchor inflation expectations following a sharp depreciation of the peso.