We’ve seen reactions to swings back and forth from Hillary to Donald,” Stephen Innes, a senior currency trader at Oanda in Singapore, said in a phone interview, referring to the nominees, Hillary Clinton and Mr. Trump. The Japanese yen and Mexican peso in particular were weakening significantly in Asian trading, he said, whenever live election results from Florida showed gains for Mr. Trump, the Republican nominee.
However, Mr. Innes added that overall volumes were light, suggesting that many investors were taking a wait-and-see approach until results became clearer.
Traders “aren’t taking on an ultimate amount of risk at the moment and are waiting for the dust to actually settle,” he said. “The lack of liquidity is amplifying these moves.”
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