TORONTO -- Canada's dollar took a wild ride in overnight trading in the midst of Donald Trump's U.S. presidential victory, shedding nearly 1.3 cents before stemming some of its losses.

The loonie tanked on global markets, falling as low as 73.89 cents US on Wednesday at around 12 a.m. ET, down 1.27 cents from its close Tuesday.

The Canadian dollar ended the day at 74.75 cents US, down 0.41 of a cent from Tuesday's close.

The U.S. dollar closed at C$1.3378, up 0.73 of a cent.

Pound sterling was C$1.6617, up 1.59 cents and US$1.2421, up 0.51 of a cent.

The Euro closed at C$1.4594, down 0.61 of a cent.