Wednesday the 6th of November
Today's rates & market news
Key Headline:
Trump Wins, USD to soar
Yesterday:
Markets Hit Pause as US Election Results Loom: A Glimpse into Dollar Volatility
As the US presidential election draws near, markets have hit the proverbial "pause" button, with traders exercising caution amid growing uncertainty. The US dollar, a typical safe-haven asset, saw a slight pullback yesterday as investors squared up their long positions in anticipation of what is arguably one of the most crucial elections in recent history.
Today’s Rates
Today's Interbank Rates at 09:58am against GBP movement.
GBP>EUR – 1.1997
GBP>USD – 1.2891
EUR>GBP – 0.8335
EUR>USD – 1.0744
GBP>CAD – 1.7918
GBP>AUD – 1.9572
GBP>SEK – 13.983
GBP>AED – 4.7335
GBP>HKD – 10.024
GBP>ZAR – 22.770
GBP>CHF – 1.1272
GBP>PLN – 5.2363
Key Takeaways:
- Early election results suggest a Trump win, sending the US dollar to its highest levels in four months.
- The Chinese Yuan and Euro are particularly vulnerable to Trump’s proposed trade tariffs and protectionist policies.
- A potential Republican sweep in Congress could fuel further dollar strength due to anticipated tax cuts, regulatory rollbacks, and inflationary pressures.
- US equity markets and interest rates are firming in response to expectations of economic growth under Trump’s leadership, with inflation concerns looming.
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