The Mexican peso tumbled against the US dollar in Asian trade on Wednesday as forex traders worried about a Florida race that was still too close to call and a Virginia race that didn't seem to match expectations of a Democrat win.
As Trump held a lead in several key swing states such as Florida, Ohio and North Carolina, and with the Republicans projected to hold control of the House of Representatives, the dollar plunged against most of its major rivals and stock futures plummeted more than 4 percent.
The Nikkei fell almost 5 percent while the Japanese yen and Swiss franc rose across the board as investors sought safe-haven assets. Gold was also up more than 3 percent.
USD/MXN rose more than 11 percent by the time of writing soaring to historical highs above 20.49. EUR/USD soared to 1.12 up almost 2 percent with USD/JPY plunging more than 3.3 percent below 101.50.
Hilary Clinton was the projected winner of the 2016 US elections and become the first ever woman President. However markets jittered as the odds started to shift towards Republican nominee Donald Trump. As Ohio and Florida were called in favour of Trump it became more clear that Republican nominee was edging towards a historical victory.
