- Former President Donald Trump wins Pennsylvania, according to the Associated Press, coming within three electoral votes of the presidency.
- Trump could win the election by simply winning Alaska or any other key state.
- Trump’s likely victory favors the so-called Trump trades, with the US dollar and Bitcoin soaring.
Former US President Donald Trump is on the verge of officially winning the 2024 US presidential election. The Republican candidate has won Pennsylvania, a key state, according to the Associated Press. Trump’s victory in this key state, as well as his lead in others, puts him on the brink of victory.
Trump had already won other key states such as Georgia and North Carolina. The Republican candidate has secured 267 electoral votes, just three short of the 270 needed to become president. Kamala Harris, for her part, has secured 224 electoral votes.
US presidential election results. Source: Associated Press
Trump has a considerable lead in other key states such as Michigan, Wisconsin, Nevada and Arizona. Winning all of them would result in a complete sweep of all the key states. In any case, securing Alaska – a Republican stronghold – would be enough for Trump to win.
Some estimates also suggest that Trump could win in the popular vote, making him the first Republican candidate to do so in 20 years. Republicans have also regained 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 nearly securing victory. “America has given us an unprecedented mandate,” he added.
The US Dollar soars more than 1.5% on Wednesday, according to the US Dollar Index (DXY). Meanwhile, Bitcoin jumps 6% and has reached a new all-time high. Meanwhile, Gold retreats further from recent highs, falling 0.6% on Wednesday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
