Asian currencies tumble as projected Trump win propels dollar

Singapore’s dollar and Thailand’s baht slid the most among Asian currencies on Wednesday, while the Mexican peso hit a two-year low as the dollar surged on projections that Republican Donald Trump had won the US presidential election. The Singapore dollar was last down 1.3 per cent at a three-month low and set for its worst session since August 2015. Thailand’s baht slumped as much as 1.9pc to a two-month low, in its biggest one-day drop since February 2023. The dollar was set for its biggest daily rise since March 2020 against major peers, and US Treasury yields also soared to multi-month peaks.