Major currencies from around the world fluctuated like no other as Donald Trump was elected the new president of the United States. Some fluctuated in a positive manor while others created a negative situation.
The Mexican peso's value decreased almost eight percent when the news broke. This decrease was caused by Trump's plans for Mexico, such as eliminating NAFTA and lowering corporate taxes to bring jobs back to America. This would decrease their value because without NAFTA, Mexico will start having to pay the United States much more in tariffs and fees while losing jobs to the United States would hurt the economy.
Russia's ruble was on the other side of the spectrum, increasing 0.4%, not much but enough to make a significant impact. Russia saw this because Trump has promised to improve ties with Russia and to become much tougher on China and Japan, two of Russia's key competitors. Better relations with Russia would lead to the flow of more goods and services while cracking down on China and Japan would limit their production, only to help increase Russia's production.
My overall view on Trump winning the elections and the world's economy is positive. I truly believe Trump will set laws and policies that will only encourage businesses to thrive, such as lowering the corporate tax rate. His policies will also help the US economy because his plans of going after China and Japan will make them pair their fair share instead of letting them take advantage of us like previous presidents.
Mozee, C (2016, November 9). Dollar gain in postelection trading, peso hits record low. Market Watch.
Retrieved from http://www.marketwatch.com/story/dollar-mexican-peso-drop-as-trump-
secures-us-presidency-2016-11-09
Strong blog! JM
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