Fundamental Analysis

Dollar Drops As Some US Polls Shift Toward Harris: Markets Wrap

The dollar dropped and US Treasuries rallied as investors walked back bets on Donald Trump winning the presidential election after weekend polls indicated Kamala Harris was gaining ground.

An index of the greenback dropped the most in six weeks. Ten-year Treasury yields fell 10 basis points to 4.28%. The Mexican peso — which tumbled in the aftermath of Trump’s 2016 victory — was among the top performing major currencies tracked by Bloomberg.

Harris received some encouraging signals from an ABC News and Ipsos poll giving her a 49%-46% edge nationally against Trump in the race for the White House. Other surveys showed the two candidates poised for a photo finish, with voters narrowly split both nationally and across the pivotal swing states.

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Arvinth Akash

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