In a financial market awaiting the results of the US elections, the table is set: both Kamala Harris and Donald Trump have chances. Meanwhile, the euro and the yen rise against the dollar.
He dollar falls this Tuesday, as traders squared positions ahead of what are expected to be a few close presidential elections in the United States, while options volatility soared after the latest polls reduced some market bets on a possible Republican victory Donald Trump.
Democrat Kamala Harris also experienced a improved odds on election betting sites and overnight had a slight lead on PredictIt, although Polymarket still showed Trump as the favorite.
In recent weeks, the financial markets and some betting platforms had leaned heavily in favor of a Trump victory, whose tariff and immigration policies are considered inflationary by analysts, which caused a rise in the yield of Treasury bonds and the dollar.
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US elections: what investors expect
The US currency suffered a setback on Monday, after a weekend poll showed Harris with a surprising lead in Iowa, a traditional Republican stronghold. Overall, polls continue to show a tight race. With several hours left until the first results are known, The dollar was trading practically flat against a basket of six major currencies.
“Today it’s all ‘wait and see.’ Nobody will have any conviction until we begin to know the first results and that’s where we’ll see the markets start to jump,” said Pepperstone’s Michael Brown.
The euro advanced 0.15%, to $1.08928; the pound sterling improved 0.2% to $1.2984; and the yen was trading stable at 152.235 units.
Source: Ambito
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