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Currencies across Europe are charging against the dollar

Will Martin   

Currencies across Europe are charging against the dollar
Finance2 min read

European currencies are taking a leg up on Wednesday as the dollar tanks thanks to Donald Trump's seemingly imminent victory in the US Presidential election.

In early morning trade, around 6.35 a.m. GMT (1.35 a.m. ET), the pound, euro, and the Swiss franc are significantly higher against the greenback, benefitting from the weakness caused by Trump's shocking lead in polls, and the fact that he is only a handful of electoral college votes away from the White House.

The euro has gained just over 1.9% on the dollar so far in trade. Here's how that looks:

euro dollar trump win

Investing.com

Switzerland's franc, traditionally seen as a safe haven in times of turmoil has picked up 1.8%

Screen Shot 2016 11 09 at 06.45.08

Investing.com

And the pound - which has endured its own struggles in recent months following the UK's vote to leave the EU - is around 0.8% higher to trade close to $1.25:

Screen Shot 2016 11 09 at 06.43.40

Investing.com

Trump and his economic positions are seen as far less predictable than those of Hillary Clinton, and do not always follow party orthodoxy. As such he is perceived as more of a political risk than Clinton, causing the huge reactions in the markets overnight.

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