The euro fell to its lowest level against the American dollar since late June on Wednesday as Republican candidate Donald Trump secured ballots in four of the seven key swing states, bringing his electoral vote count above the 270 needed to claim victory in the presidential election.
The dollar strengthened overnight as votes were tallied across the United States, showing a lead for the Republican candidate, known for his economic policies that focus on expanding economic activity through tax cuts and tariffs, which could potentially strain trade ties with Europe. In addition, uncertainty regarding Trump's reelection could be driving demand for the dollar higher, which is also viewed as a safe-haven currency during periods of geopolitical risk.
The euro plunged 2.17% against the dollar, changing hands for 1.06894 at 1:33 pm CET.
