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Wednesday, 9 November 2016

The dollar steadied against the euro after a shock reaction to the victory of Donald Trump

The US dollar steadied against the euro and the majority of the world's currencies after falling sharply against the background of the panic caused by the victory of Donald Trump's presidential election in the United States.
Despite the fact that before voting probability of presidency for Hillary Clinton was estimated at 80%, D. Trump managed to win in the key "fluctuating" states. His victory was called by the US media the biggest surprise in the history of the US electoral system.
The euro exchange rate against the US dollar by 20:38 GMT was $1.0922 compared with $ 1.1026 at the close of the previous session. Earlier in the trade, the dollar fell to $1.1300 per euro.
Meanwhile, the Mexican peso fell in value by 7.5%, earlier that day its fall against the dollar exceeded 11%, which was a record for 20 years. According to economists, the election of President Trump could worsen relations between the two countries and to reduce the volume of trade. The newly-elected president spoke about the possible cancellation of a free trade zone with Mexico and Canada. Canadian dollar against the US dollar decreased by 1%.

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