Investors fled from risky assets on fears that Trump's pledges during his election campaign could translate into years of policy uncertainty.

Several polls heading into the vote had shown Democratic candidate Hillary Clinton, who investors saw as a safer choice, with a slight lead.

"The extent of the impact will depend on whether he forcefully pushes ahead with his campaign promises or whether he moves more towards the center," HSBC analysts led by Murat Ulgen wrote in a report.

HSBC singled out currencies that have strengthened more than its peers this year, such as the Brazilian real , the Russian rouble and the Indonesian rupiah , as among the most vulnerable.

The real tumbled 2 percent in early Wednesday trading after strengthening over 20 percent so far this year.

Brazil's central bank announced before the market open it was cancelling an auction of up to $250 million worth of reverse currency swaps scheduled for Wednesday, without specifying why.

Reverse currency swaps function like dollar purchases from investors for future delivery and tend to weaken the Brazilian real.

Futures contracts on Brazil's benchmark Bovespa stock index fell 3.2 percent.

The Mexican peso slid as much as 12 percent to the weakest on record but later pared losses to about 9 percent. Traders said Trump's "conciliatory" acceptance speech helped the currency retrace earlier losses.

Trump has repeatedly threatened to revoke a free trade agreement with Mexico and tax money sent home by migrants to pay for building a wall on the southern U.S. border.

Key Latin American currencies at 0610 ET:

Currencies Latest daily % YTD %

change change

Brazil real 3.2330 -2.04 22.08

Mexico peso 19.9120 -8.00 -13.47

(Editing by Chizu Nomiyama)

By Bruno Federowski