Trump fear fans dollar rally, emerging market sell-off

The dollar soared against high-yielding currencies and Asian emerging markets sank on Friday on the prospect of higher US interest rates, with dealers betting Donald Trump's planned huge spending policies will fire inflation. Despite an all-time high close on Wall Street, investors across Asia turned cautious on uncertainties linked to a Trump presidency, while the Mexican peso fell back towards record lows on worries about the firebrand tycoon's anti-Mexico stance. After an initial shock, global equities rocketed on news Trump had beaten Hillary Clinton, with investors hoping for business-friendly policies and measures to boost the US economy, a key driver of world growth.

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