Dollar soars, bitcoin hits record, stocks swing as Trump win seen
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The dollar surged and bitcoin hit a record high Wednesday as traders bet on a victory for Donald Trump as he picked up key swing states needed to take the White House, ramping up bets on fresh tax cuts, tariffs and rising inflation.
While polls had shown the race on a knife edge, the Republican appeared to be faring better than his Democratic opponent Vice President Kamala Harris as results rolled in.
Both candidates picked up expected wins in safe states, but indications that the business tycoon was on course for a second term boosted the so-called Trump Trade.
The tycoon won Georgia and North Carolina, with others still up in the air, while US networks declared him the winner in key battleground Pennsylvania with Fox News calling the election in his favour.
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