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@kfm Tue, 05 Nov 2024 09:40:56

Dollar limps into US Election Day as ‘Trump trades’ unwind

BY REUTERS The dollar softened on Tuesday as traders squared positions on the day of the U.S. presidential election, after recent polls dented some market bets on a victory for Republican Donald Trump. Democrat Kamala Harris has also experienced improving odds on election gambling sites and had a slight lead on PredictIt overnight, although Polymarket continued to show Trump as favourite. In recent weeks, financial markets and some betting platforms had leaned strongly in favour of a win for Trump, whose tariff and immigration policies are considered inflationary by analysts, leading to a rise in U.S. Treasury yields and gains for the dollar. Overnight, though, the U.S. currency slumped as much as 0.76% against the euro to a three-week trough […] The post Dollar limps into US Election Day as ‘Trump trades’ unwind first appeared on 93.3 KFM.

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