In a result that was not seen by pollsters or markets, Donald Trump has, according to US networks, won the US presidential election.
As results came in through the night and the swing to Trump became apparent, equity index futures were crushed, Japan’s Nikkei Index at one stage being 1000 points down, and the US dollar was hit hard as part of a “risk off” trade.
USD/MXN, the bellwether pair for the election, dropped to 18.1650 in trading soon after polls closed as exit polls predicted a Clinton victory, however as Trump crept up in the polls the pair jumped higher, ultimately hitting a high 20.77 – a fall for the peso of 14.3%. The fall in the peso prompted Mexican authorities to call an emergency meeting to discuss their response to the financial fall out from the election.
Justin Brill has joined the Cürex Group as managing director responsible for business development.
Brill has spent the last 12 years at Morgan Stanley where most recently he was executive director for listed derivatives and OTC clearing. Prior to that, he was global head of FX and metals prime brokerage.
“Justin’s decision to join Cürex speaks volumes about the relevance of our FX ECN platform and data analytics capabilities, as well as their unique benefits to every buy side customer,” says Jamie Singleton, Cürex chair and CEO.
Martin O’Donoghue, who recently left his position as head of spot FX at Credit Suisse, is set to join Morgan Stanley in London, according to market sources.
Although a spokesperson for Morgan Stanley declines to comment on the appointment and Donoghue’s title there is not yet known, sources say that he is joining the American bank in early 2017.
O’Donoghue left Credit Suisse, where he was also based in London, after seven years with the bank. Prior to that, he ran the spot desk at Bank of America