Dollar tumbles against yen, euro on strong Trump showing

The dollar tumbled against the yen and euro while the Mexican peso fell off a cliff as polling results in the knife-edge U.S. presidential race pointed to a strong showing by Donald Trump.

The greenback plunged 3.8 percent to 101.47 yen and shed more than two percent against the euro, which bought $1.1232 in Tokyo trading.

The peso, which has become a proxy for the property mogul’s chances of becoming U.S. president, slumped to below 20 against the dollar, an historic low.

“Mr Trump has made it clear that he hates a strong dollar, which is a threat” to the floating-rate system, he added.

His “inward-looking policy” was moving financial markets, Karakama said.

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