Breaking: Trump inches closer to presidency after winning decisive Pennsylvania swing state

• Former president Donald Trump wins Pennsylvania, according to the Associated Press, putting him short of three electoral votes for the presidency.
• Trump could take the election by just winning in Alaska or any other swing state.
• Trump's likely victory favours the so-called Trump trades, with the US Dollar and Bitcoin soaring.

Former US president Donald Trump is about to officially win the 2024 US presidential election. The Republican candidate has won in Pennsylvania, a key swing state, according to the Associated Press. Trump's win in this key state, as well as his lead in others, puts him on the verge of victory.

Trump had already won in other key states such as Georgia and North Carolina. The Republican nominee has secured 267 electoral votes, just three under the 270 electoral votes needed to become president. Kamala Harris, meanwhile, has secured 224 electoral votes.

Trump holds a commanding lead in other key states such as Michigan, Wisconsin, Nevada and Arizona. Winning all of them would result on a clean sweep of all key swing states. In any case, securing Alaska – a Republican stronghold – would be enough for Trump to win.

Some estimates also suggest that Trump could win in the popular vote, the first Republican candidate to do so in 20 years.

"This is a magnificent victory for the American people," Trump said in his first speech after almost securing the victory. "America has given us an unprecedented mandate," he added.

The US Dollar soars more than 1.5% on Wednesday, according to the DXY US Dollar Index. Meanwhile, Bitcoin jumps 6% and has reached a new all-time high. Meanwhile, Gold retreats further from recent highs, falling 0.6% on Wednesday.

(developing story, please refresh for updates)