Donald Trump has won a stunning victory over Hillary Clinton, wrongfooting investors around the world and defying Republican and Democratic political elites with his populist “Make America Great Again” movement.
The victory by the political outsider, amplified by a Republican sweep of the Senate and House of Representatives, marks a repudiation of Barack Obama that was fuelled by a backlash against globalisation in the wake of the global financial crisis.
The result, which upended the predictions of most pollsters and investors, led to sharp swings in financial markets. The Mexican peso was off 7.8 per cent after tumbling 12 per cent, its biggest drop since the country’s 1994-1995 devaluation crisis.
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