Dollar turns tail as Trump edges ahead in fiercely contested U.S. election

By Shinichi Saoshiro

TOKYO (Reuters) – The dollar sank more than three percent versus the yen and turned tail against other major peers on Wednesday in extremely volatile trade in global markets, as a fiercely contested U.S. presidential election showed the outcome was too close to call.

Republican Donald Trump won the key battleground state of Ohio on Tuesday, was the projected winner in Florida and led Democrat Hillary Clinton in a series of other states like North Carolina, in a surprisingly close race for the White House.

The dollar slumped 3.1 percent at 101.890 yen JPY= in a volatile day that saw it rise to 105.480 earlier, when last-minute projections from the previous day put Clinton in favor.

The dollar fell 1.8 percent against the Swiss franc, another safe-haven, to 0.9606 franc CHF=.

“The catalyst behind the dollar’s slide was reports that put Trump ahead of Clinton in the battleground state of Florida,” …
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