Dollar slips as FX traders gird for US Presidential election outcome

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Dollar slips as FX traders gird for US Presidential election outcome - Business Standard

Quick Summary:

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.

Complicating the picture even more for traders this week is the Federal Reserve's policy meeting on Thursday, at which the US central bank is expected to cut interest rates by a quarter point.

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 US Treasury yields and gains for the dollar.