U.S. dollar rises after Trump victory
Xinhua, November 10, 2016 Adjust font size:
The U.S. dollar climbed against most major currencies on Wednesday as investors were assessing the impacts of Republican Donald Trump winning the U.S. presidential election.
The greenback recovered on Wednesday from an overnight selloff, as Trump's victory speech eased market nerves following the surprising result of the election.
Trump addressed the nation at the Hilton hotel ballroom in midtown Manhattan, saying that "I'll be a president for all Americans."
Analysts said that the increased prospect of tax cuts and a generally pro-growth set of policies from Trump, aided and abetted by the Republican clean sweep of congress, boosted investor sentiment.
The dollar index, which tracks the greenback against six major peers, was up 0.71 percent to 98.553 in late trading.
In late New York trading, the euro fell to 1.0927 dollars from 1.1020 dollars, and the British pound rose to 1.2428 dollars from 1.2393 dollars. The Australian dollar declined to 0.7640 dollars from 0.7747 dollars.
The dollar bought 105.69 Japanese yen, higher than 105.05 yen in the previous session. The dollar inched up to 0.9839 Swiss francs from 0.9777 Swiss francs, and it climbed to 1.3424 Canadian dollars from 1.3326 Canadian dollars. Enditem