Wednesday the 6th of November

John Hall • November 6, 2024

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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This document has been prepared solely for information and is not intended as an Inducement concerning the purchase or sale of any financial instrument. By its nature market analysis represents the personal view of the author and no warranty can be, or is, offered as to the accuracy of any such analysis, or that predictions provided in any such analysis will prove to be correct. Should you rely on any analysis, information, or report provided as part of the Service it does so entirely at its own risk, and Frank eXchange Limited accepts no responsibility or liability for any loss or damage you may suffer as a result. Information and opinions have been obtained from sources believed to be reliable, but no representation is made as to their accuracy. No copy of this document can be taken without prior written permission.

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