USDMXN refers to the abbreviation for the US Dollar and Mexican Peso pair. Mexico has close geographical, political and commercial ties to the US, making the Mexican currency to be highly responsive to policy changes from the latter. Following a recent survey by the Bank of International Settlements, the USD/MXN pair was shown to represent 2.1% of all forex trading by daily volume. Since the entry of Trump's administration, the pair has been nicknamed the "Trump Trade" because of volatility prompted by Donald Trump's tough stance against US-Mexico trade policies. The most preferred times to trade USD/MXN is during the US trading session.