The surge in the greenback sent currency peers around the world sliding, with the euro weaker by more than 1%. The yen, Australian dollar and Swiss franc also fell more than 1%, while losses in the Mexican peso hit the 2% mark.
The dollar rose to its highest since July as early results of the US presidential vote indicated that Donald Trump had an edge in certain key states, boosting demand for trades that hinge on the former president’s protectionist policy vows.
The Bloomberg Dollar Spot Index rallied more than 1% amid haven demand and as traders returned to wagers seen as benefiting from low-tax and high-tariff policies under a potential Trump administration. The Republican had taken preliminary leads against Vice President Kamala Harris in Georgia and North Carolina, two key swing states, while vote counting in others was in its early stages.
