Republican Donald J Trump has won the US presidential election, defeating Democrat candidate Hillary Rodham Clinton.

The Republicans scored a clean sweep - winning the presidential election and securing control of both the upper and lower houses of Congress.

Markets reacted with concern to Trump's victory, with the US dollar taking a three percent plunge against major currencies.

At a victory rally in New York, Trump said: "I just received a call from Secretary Clinton. She congratulated us on our victory."

"Hillary has worked very long and very hard over a long period of time, and we owe her a major debt of gratitude for her service to our country."

He added: "It is time for us to come together as one united people."

Clinton, 69, had attempted to become the first female US president was not present at what was supposed to be her victory rally in Manhattan.

According to the BBC, supporters at her campaign headquarters wept as the results became apparent.

Over at the Trump headquarters, some of his supporters could be heard chanting "Lock her up!", in reference to several controversies involving Clinton.

PROFILE: Trump rewrote political playbook in successful White House bid