Barack Obama has swept to an historic victory in the American election, overwhelming John McCain to become the first black President of the United States.

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"It's been a long time coming, but tonight, because of what we did on this day, in this election, at this defining moment, change has come to America," he declared before tens of thousands gathered in Chicago's Grant Park.

His victory, he said, showed that "America is a place where all things are possible" and that the "true genius" of his country was "that America can change".

He told the world that "a new dawn of American leadership is at hand" and that its true strength came "not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals".

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