Peso plummets in a sea of red

The dollar rose against the Korean won and the Taiwan dollar. Both Taiwan and Korea are major exporters that could be hit by any policies that restrict global trade, such as the tariffs promised by Mr. Trump.

Stephen Innes, a senior trader at Oanda Asia Pacific, said that his retail clients in general are placing smaller currency bets than normal, especially in the yen, and holding those positions for short periods of time. “There’s a lot of in and out, quick trades,” he says. “They’re not holding the positions for longer than 10 to 15 minutes.”

Mr. Innes said that his office in Singapore was noisy at times on Wednesday morning in Asia, with chatter coming through a speakerphone that connected trading desks in Singapore, New York and Toronto. “The squawk box went crazy” as polls closed in Florida, he added.

“If Trump wins…there wi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes