US$, Mexican peso fight back after Trump upset

London

THE US dollar, Mexican peso and world stocks fell on Wednesday as Donald Trump swept to victory in the US presidential election, but fears of a Brexit-style shock that wiped trillions off global markets have failed to materialise.

European shares were down less than one per cent and investors were returning to other markets that had been sent into a tailspin as it became clear Mr Trump was set for a dramatic victory over heavily favoured Democrat Hillary Clinton. Investors fear a Trump victory could cause global economic and trade turmoil and years of policy unpredictability, which among other things could discourage the Federal Reserve from raising interest rates in December as long expected.