Associated Press

Nothing has taken Donald Trump's election harder than the Mexican peso, which has fallen almost 8% since November 8th.

But if you thought his tough-on-immigration speech would rub salt in the wound, think again. The peso has been surging since the president began talking.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

UBS analyst Bhanu Baweja warned earlier today that this would happen, arguing that markets have overshot the effects that even high tariffs would have on Mexico's economy.

Why this matters: Higher volatility in currency markets is a win for Wall Street, who have the smarts and the resources to profit from greater uncertainty. The president's penchant for geopolitical confrontation and off-the-cuff remarks will redound to the benefit of big finance.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

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Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.