MUFG: Dollar could appreciate if Trump is elected president
Mitsubishi UFJ Securities analyst Derek Halpenny said that if Republican candidate Trump wins the US presidential election on November 5th, the US dollar and US stock market may rise, at least initially. Trump stated in a media interview last week that the risk of increasing tariffs faster than in his first term as president is higher. However, the US dollar's nearly 4% rise in October suggests that this has already been digested and may limit the US dollar's gains. If Trump wins, the euro against the US dollar may fall below 1.0500, but it will still be above parity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple President: XRP could be the next crypto spot ETF
AAVE drops below $290
Bitcoin mining and security face risks from quantum computing