Trump elected as new president of the United States after winning in key swing states

Former president Donald Trump has been elected as the new president of the United States, according to the Associated Press.
Trump has secured more than 270 electoral votes after winning in key swing states such as Pennsylvania and Wisconsin.
Trump's victory favors the so-called Trump trades, with the US Dollar and Bitcoin soaring.

FXStreet Team FXStreet

Former US president Donald Trump has been elected as the 47th president of the United States after comfortably winning the 2024 presidential election. The Republican candidate has secured more than 270 electoral votes after winning in key swing states such as Pennsylvania and Wisconsin.

The Republican nominee has secured 277 electoral votes. Kamala Harris, meanwhile, obtained 224 electoral votes.

US presidential election results. Source: Associated Press

Trump holds a commanding lead in other key states such as Michigan, Nevada and Arizona, so the number od electoral votes for the Republican is likely to be higher.

Some estimates also suggest that Trump could win in the popular vote, the first Republican candidate to do so in 20 years. Republicans have also retaken control of the Senate, while the results for the House of Representatives are still uncertain.

"This is a magnificent victory for the American people," Trump said in his first speech after almost securing the victory. "America has given us an unprecedented mandate," he added.

Kamala Harris hasn't conceded yet as the Democrat candidate postponed her speech. Cedric Richmond, co-chair of Harris’ campaign, said that Harris would address the nation on Wednesday morning US time.

The US Dollar soars by around 1.5% on Wednesday, according to the DXY US Dollar Index. Meanwhile, Bitcoin jumps more than 6% and has reached a new all-time high. Gold retreats further from recent highs, falling 0.8%.

(This story was corrected on November 6 at 10:52 GMT to say, in the first paragraph, that Donald Trump has been elected as the 47th president of the United States, not the 4th.)

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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