Dollar still down but reverses some earlier losses against major currencies as Hillary Clinton concedes defeat to Donald Trump

Francesca Washtell
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Republican Presidential Nominee Donald Trump Holds Election Night Event In New York City
Donald Trump has won the White House over his rival Hillary Clinton (Source: Getty)

The dollar began to creep back against the pound, euro and the yen following Donald Trump's conciliatory first speech after being elected the 45th President of the US.

The greenback has made a comeback from earlier losses (albeit slight), trading down 0.31 per cent against sterling at mid-morning at £0.8052.

Shortly after 5.30am, it was 1.1 per cent down against the pound, at £0.7988.

Read more: The pound hasn't had quite the boost some had thought on a Trump win

The pound at one point breached $1.25, the highest its been since early October, though since those highs last night it has fallen back.

USD:GBP exchange rates, times are Eastern Standard Time (Source: Bloomberg)

Against the euro, the dollar was down 0.47 per cent at €0.9027 in mid-morning trading, up from €0.8871 (almost three per cent down) in the early hours. It also rallied slightly against the Japanese yen, previously falling more than 3.34 per cent but now down almost half that to 1.84 per cent at ¥103.22.

After gaining upwards of 13 per cent against the Mexican peso, this has now dropped to a 9.25 per cent gain to trade at 20.0181 pesos.

Read more: FTSE 100 down 144 points , FTSE 250 down 300 points after Trump wins

USD:MXN exchange rates, times in Eastern Standard Time (Source: Bloomberg)

"I say it is time for us to come together as one united people," Trump told his supporters in New York shortly before 8am.

"To those who have chosen not to support me in the past, of which there were a few people, I'm reaching out to you for your guidance and our help so we can unify our great country. As I've said from the beginning, ours was not a campaign, but rather an incredible and great movement made up of millions of hard working men and women who love their country and want a better, brighter future for themselves and their family."

He also congratulated Clinton, who conceded defeat shortly before 7.45am this morning.

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