Currencies and markets have reacted with volatility to Donald Trump’s success as the Mexican Peso crashed in value as Donald Trump was declared the 45th President of the United States.
And Asian markets fell through the floor on Wednesday morning after the tycoon clinched the key states of Florida and Ohio.
The US dollar fell three per cent against the Japanese Yen, with the Peso down more than five percent.
And the Turkish Lira fell more than two per cent, while the S&P 500 plunged more than four per cent.
But the pound rose one per cent against the dollar with investors signalling a positive impact for Britain.
Neil Wilson, of ETX Capital said: “The pound is rising as the dollar is being sold off – it’s not a story of pound strength but dollar weakness.
Markets across the globe have tumbled but the pound has rallied
“For the FTSE it’s a double whammy – we’re seeing a big selloff in equities across the board that’s hitting the blue chips.
“Currently calling FTSE to open 250 points lower at 6563.
“But the rise in the pound is also hitting stocks for the same reason the index has risen post-Brexit – foreign earnings account for so much of revenues.
“It’s a Brexit moment for the markets but with further-reaching global ramifications. Could be positive for UK – not at the back of the queue for a trade deal perhaps.”
The faltering Euro was also up nearly two per cent against the Euro, suggesting investors may be looking to invest in the comparatively stable currency.
The president-elect vowed to rip up a free-trade deal between Mexico and the US, sparking fears south of the border.
Billionaire Trump also pledged to tax money being sent home by Mexican migrants in order to build a wall on the flashpoint border.
The Mexican currency had been extremely volatile in the run-up to last night’s vote.
