The U.S. dollar rose broadly against its major rivals on Wednesday as investors digested Donald Trump’s unexpected victory in the presidential election.

Trading was volatile throughout the morning, with major currency pairs seeing huge swings, though the trend for the dollar turned higher in the afternoon, tracking other markets like U.S. stocks, which also recovered early losses to advance.

Still, the day’s trading was mixed in some respects. The dollar rose sharply against some currencies, in an apparent move to safety, while it weakened against others. Among the trades with the most sensitivity to Trump, the Mexican peso USDMXN, +2.68% fell to a record low while the Russian ruble USDRUB, +1.15% spiked.

The ICE U.S. Dollar index DXY, +0.32% , a measure of the dollar’s performance against a basket of six rivals, rose 0.7% to 98.50, recovering off a drop of 2% hit in the early Wednesday hours. The WSJ Dollar Index BUXX, +0.50% , which looks at the greenback against a larger basket of currencies, rose 0.9% to 88.83.

Markets had been pricing in a White House win for Democratic Party nominee Hillary Clinton, who they largely saw as promising more stability and continuity for financial markets than Trump. In his victory speech, Trump said it was time to “come together as one united people.”

“His acceptance speech was fairly benign, and not as aggressive as some people might have feared,” said Viraj Patel, foreign exchange strategist at ING, though he added that he expects more volatility going forward.

“Some may see this as a kind of ‘Trump-lite’ but there are too many questions marks,” he said. “The market seems too calm for comfort. There are a lot of questions about Trump’s policies, especially his fiscal policies. Once we find out the answer to those, we suspect the market may not like the answer. You can’t do a massive U-turn from the kind of protectionist stances he’s been talking about for months.”

The euro EURUSD, -0.34% traded at $1.0923 against $1.1020 late Tuesday, a move of 0.9%, while the pound GBPUSD, -0.02% was at $1.2432, compared with $1.2384. Both were extremely volatile: the euro moved between a low of $1.0919 and a high of $1.1305, while the pound fluctuated between a low of $1.2353 and a high of $1.2548.

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Against the yen USDJPY, +0.43% , the dollar traded at ¥105.83 from ¥104.96, and moved between ¥101.19 and ¥105.87.

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The Mexican peso plunged to record lows on Wednesday, losing 7.8% to trade at 19.79 to the dollar, compared with 18.34 late Tuesday. Earlier, it fell as much as 13% in the currency’s largest daily drop since the so-called Tequila Crisis, according to the Financial Times. The ruble rose 0.4% against the dollar.

Trump’s victory is seen as supportive for Russia. The president-elect has a number of ties with the country, and he has promised to get tough on both China and Japan—two of Russia’s primary rivals in Asia.

Elsewhere, the Australian dollar AUDUSD, -1.14% traded at 76.62 cents from 77.52, a move of about 1.2%. Against the Canadian dollar USDCAD, +0.51% , it traded at C$1.3382 from C$1.3293.

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