Trump’s win sends dollar sharply higher, some currencies tank

Some emerging market currencies and stocks have suffered losses after the US election win by Republican Donald Trump sent the dollar sharply higher and raised the threat of fresh trade barriers.

MSCI’s index tracking currencies in major developing markets is on track for its biggest one-day drop since February 2023.

Trump’s win was driven by US voter concerns about the economy, border security and immigration.

Trump’s victory ushers in a new era of American leadership not just at home but abroad, in a Presidency likely to test the institutions of democracy.

This will be the first time in over 100 years that a former President was re-elected to the White House after losing an election and the first time in history Americans have elected a convicted felon, an individual twice impeached in his first term.

Trump secured an electoral college victory, winning the key swing states of North Carolina, Georgia, Pennsylvania and Wisconsin, a near clean sweep of the battlegrounds needed for victory.

Speaking to supporters late Tuesday, Trump said America had given them an unprecedented and powerful mandate.