While financial markets were initially shocked to awake to a victorious President-elect Donald Trump, the kneejerk selloff rapidly reversed, with risk assets completely rebounding and ending the session higher. The dollar ended the session in positive territory, bolstered in large part by expectations that a December rate hike was still on the table. Optimism was also stoked by the Republicans taking both the House of Representatives and the Senate, paving the way for immediate action after Trump is inaugurated. Although some points of his plan for the first one-hundred days of office have been roundly dismissed by certain party members, Trump’s spending and taxation plans were well-received by financial markets. After falling nearly 400 pips during the tallying of votes, USDJPY managed to erase all earlier losses before a surge back to the upside, ending the session 50 pips higher.