The impact of Donald Trump’s victory on European currencies

gettyimages-615699240Donald Trump just pulled off one of the greatest upsets in political history, becoming the 45th president of the United States of America.

Trump’s victory in the elections for US president has immediately had a significant impact on stock market and European currencies.

In early morning trade, around 6.35 a.m. GMT (1.35 a.m. ET), the pound, euro, and the Swiss franc were significantly higher against the greenback, benefiting from the weakness caused by Trump’s shocking victory.

The dollar pulled back soon after Trump’s win was announced. “It is time for us to come together as one united people,” he said.

The euro initially gained more than 2% on the dollar. 

Here’s how it looks just before 8.45 a.m. GMT (3.45 a.m. ET)

screen-shot-2016-11-09-at-08-36-53

Even the pound which has endured its own struggles in recent months following the UK’s vote to leave the EU was around 0.8% higher to trade close to $1.25 before falling toward $1.24:

screen-shot-2016-11-09-at-08-40-56

Trump and his economic positions are seen as far less predictable than those of Hillary Clinton causing the huge reactions in the markets overnight.

Photos: investing.com

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