Dollar, peso and global stocks steady as reality of Trump win sets in
London/Sydney — The US dollar, Mexican peso and world stocks began to steady in the European morning on Wednesday, having been hammered overnight as Donald Trump swept to victory in the US presidential election. European shares were down less than 1% and investors were returning to other markets that had been sent into a tailspin as it became clear the 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 will discourage the Federal Reserve from raising interest rates in December as long expected. "I love this country," Trump said in a victory speech in New York. "America will no longer settle for anything less than the best.... We have a great economic plan, we will double our growth and have the strongest economy in the world." Sovereign bonds, the Japanese yen and gold were all giving back ground having surged a...
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