The Fort Worth Press - Dollar soars, stocks rally as Trump wins US election

USD -
AED 3.672977
AFN 68.000338
ALL 93.019769
AMD 388.466711
ANG 1.802136
AOA 913.507442
ARS 1004.024015
AUD 1.53468
AWG 1.8025
AZN 1.702233
BAM 1.859028
BBD 2.018819
BDT 119.494913
BGN 1.86488
BHD 0.376867
BIF 2897.5
BMD 1
BND 1.343751
BOB 6.909335
BRL 5.814302
BSD 0.999857
BTN 84.485602
BWP 13.651378
BYN 3.272548
BYR 19600
BZD 2.015674
CAD 1.39568
CDF 2870.000091
CHF 0.886604
CLF 0.035278
CLP 973.429703
CNY 7.237203
CNH 7.253685
COP 4391
CRC 508.292544
CUC 1
CUP 26.5
CVE 105.62499
CZK 24.195026
DJF 177.720257
DKK 7.115305
DOP 60.4023
DZD 133.588994
EGP 49.668496
ERN 15
ETB 123.093572
EUR 0.95385
FJD 2.27125
FKP 0.789317
GBP 0.793835
GEL 2.725002
GGP 0.789317
GHS 15.849765
GIP 0.789317
GMD 70.999559
GNF 8629.999573
GTQ 7.719178
GYD 209.209595
HKD 7.78355
HNL 25.174971
HRK 7.133259
HTG 131.285912
HUF 392.284991
IDR 15927.05
ILS 3.71464
IMP 0.789317
INR 84.510799
IQD 1310.5
IRR 42104.999856
ISK 139.349642
JEP 0.789317
JMD 158.803485
JOD 0.709103
JPY 154.569674
KES 129.501289
KGS 86.498751
KHR 4049.999918
KMF 467.497654
KPW 899.999621
KRW 1399.524993
KWD 0.30763
KYD 0.833321
KZT 495.877273
LAK 21954.999924
LBP 89600.000059
LKR 290.944865
LRD 180.450432
LSL 18.110004
LTL 2.95274
LVL 0.60489
LYD 4.884965
MAD 9.995001
MDL 18.209124
MGA 4670.000107
MKD 58.680488
MMK 3247.960992
MNT 3397.999946
MOP 8.016062
MRU 39.904986
MUR 46.403431
MVR 15.459836
MWK 1734.999682
MXN 20.41969
MYR 4.465031
MZN 63.949792
NAD 18.109844
NGN 1687.150112
NIO 36.789902
NOK 11.067525
NPR 135.177343
NZD 1.70542
OMR 0.384985
PAB 0.999948
PEN 3.795025
PGK 4.02575
PHP 58.981496
PKR 278.050105
PLN 4.1439
PYG 7848.150595
QAR 3.64075
RON 4.747398
RSD 111.612008
RUB 101.300503
RWF 1370
SAR 3.754518
SBD 8.355531
SCR 13.660107
SDG 601.477673
SEK 11.057569
SGD 1.345855
SHP 0.789317
SLE 22.574973
SLL 20969.504736
SOS 571.492896
SRD 35.405018
STD 20697.981008
SVC 8.749543
SYP 2512.529858
SZL 18.109726
THB 34.714996
TJS 10.649728
TMT 3.5
TND 3.164995
TOP 2.342097
TRY 34.496503
TTD 6.787668
TWD 32.563503
TZS 2652.35897
UAH 41.282881
UGX 3694.533288
UYU 42.610626
UZS 12880.000006
VES 46.002271
VND 25422.5
VUV 118.722009
WST 2.791591
XAF 623.500672
XAG 0.032387
XAU 0.000374
XCD 2.70255
XDR 0.762793
XOF 619.500595
XPF 113.650183
YER 249.924982
ZAR 18.08805
ZMK 9001.213194
ZMW 27.574604
ZWL 321.999592
  • RBGPF

    -0.5000

    59.69

    -0.84%

  • BCC

    2.4500

    139.86

    +1.75%

  • BTI

    -0.0850

    36.995

    -0.23%

  • RIO

    0.1000

    62.49

    +0.16%

  • CMSC

    0.0700

    24.59

    +0.28%

  • BCE

    -0.4400

    26.56

    -1.66%

  • NGG

    -0.2100

    63.06

    -0.33%

  • AZN

    0.6900

    63.89

    +1.08%

  • SCS

    0.1500

    13.22

    +1.13%

  • GSK

    0.2290

    33.579

    +0.68%

  • JRI

    -0.0100

    13.22

    -0.08%

  • CMSD

    0.1600

    24.42

    +0.66%

  • BP

    0.3550

    29.435

    +1.21%

  • VOD

    -0.1100

    8.83

    -1.25%

  • RELX

    0.5150

    45.625

    +1.13%

  • RYCEF

    0.1800

    6.79

    +2.65%

Dollar soars, stocks rally as Trump wins US election
Dollar soars, stocks rally as Trump wins US election / Photo: © AFP

Dollar soars, stocks rally as Trump wins US election

The dollar surged, stocks rallied and bitcoin struck a record high Wednesday as the world gears up for a Donald Trump presidency that analysts say could rekindle inflation.

Text size:

The Republican candidate made a stunning political comeback as he defeated Vice President Kamala Harris to return to the White House, four years after losing it to Joe Biden.

Well before several US media declared Trump the winner, Wall Street stock futures soared hours ahead of the market's opening bell as the former president confidently claimed a "magnificent" victory.

Europe's main equity indices jumped in morning deals, while Asia diverged, with Chinese stocks hit by expectations that Trump would impose tariffs on Chinese imports.

Market focus was also on plans to stimulate China's economy, the world's second biggest after the United States.

"Trump trade is in full swing," noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

A Trump win is expected to result in sweeping US tax cuts, seen as inflationary and therefore leading to fewer interest-rate cuts by the Federal Reserve in the coming months.

That boosted the dollar against main rivals, with the greenback up more than 1.5 percent against the euro.

The Fed announces its latest rate decision on Thursday.

"With the Federal Reserve expected to announce a likely 25 basis-point cut tomorrow, we are already seeing expectations reined in for the December meeting given the perception that Trump's policies are inherently inflationary," forecast Joshua Mahony, analyst at traders Scope Markets.

US Treasury yields also won support Wednesday.

"Investors are bracing for tariffs and a clampdown on (US) immigration, policies considered to be inflationary which are likely to mean interest rates may be more elevated in the years to come," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. .

She added that "expectations are high that a Trump presidency will mean fewer regulations on big tech and big finance".

Shares in Tesla soared more than 15 percent in pre-market US trading after Trump praised the electric car maker's boss Elon Musk, a key campaign backer, as a "star" during his victory speech.

- Bitcoin record -

Bitcoin sprung $6,000 higher to a record $75,371.67, topping its previous peak of nearly $74,000 in March.

Trump has pledged to make the United States the "bitcoin and cryptocurrency capital of the world" and to put tech billionaire Musk in charge of a wide-ranging audit of governmental waste.

Elsewhere, oil prices slid "amid expectations that under Trump more crude will flow from US wells", Streeter added.

"Another Trump presidency is likely to place emphasis on energy independence and his policies are likely to favour fossil fuels, promoting deregulation in the oil, gas, and coal industries," she said.

- Key figures around 1030 GMT -

Euro/dollar: DOWN at $1.0751 from $1.0930 on Tuesday

Pound/dollar: DOWN at $1.2894 from $1.3035

Dollar/yen: UP at 154.00 yen from 151.60 yen

Euro/pound: DOWN at 83.40 from 83.82 pence

London - FTSE 100: UP 1.4 percent at 8,289.58 points

Paris - CAC 40: UP 1.7 percent at 7,531.34

Frankfurt - DAX: UP 1.1 percent at 19,464.15

Tokyo - Nikkei 225: UP 2.6 percent at 39,480.67 (close)

Hong Kong - Hang Seng Index: DOWN 2.2 percent at 20,538.38 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,383.81 (close)

New York - Dow: UP 1.0 percent at 42,221.88 (close)

West Texas Intermediate: DOWN 1.7 percent at $70.79 per barrel

Brent North Sea Crude: DOWN 1.7 percent at $74.26 per barrel

burs-bcp/lth

F.Garcia--TFWP