As voters in the world's largest economy prepared to head to the polls, the dollar and the yield on US Treasury bonds fell as investors pared bets on a Donald Trump victory.
The dollar dipped 0.6% against a trade-weighted basket of currencies, falling to its lowest level in two weeks after a surprise opinion poll showed Kamala Harris ahead in Iowa, which had been expected to be a safe state for the Republicans. The yield - in effect, the interest rate - on 10-year US Treasury bonds fell by about nine basis points to 4.28%.
Trump has been ahead in betting markets despite trailing in opinion polls, leading to what Wall Street has called the "Trump trade" - a bet that his policies could lead to a boost for share prices, Treasury yields and the dollar if he were to be elected.
This story is from the November 05, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 05, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Rise lays bare the risks ahead for Labour
Any lingering hope that the Bank of England might deliver a pre-Christmas interest rate cut next month evaporated yesterday after official data showed inflation jumped to 2.3% in October.
'My way as a manager was taught by Bobby Robson'
George Burley is enjoying Ipswich's revival having reached great heights there more than 20 years ago
Tuchel takes goalkeeping coach Hilario from Chelsea
Thomas Tuchel's backroom staff has been bolstered by the addition of Henrique Hilario, who is ending his 18-year association with Chelsea to become England JS new goalkeeping coach.
Kosovo to take Uefa to Cas after Romania awarded points
Kosovo are preparing an appeal to the court of arbitration for sport (Cas) after Uefa handed them a 3-O defeat for walking off the field during Friday's Nations League tie against Romania in Bucharest, which was eventually abandoned when they elected not to return.
Staying power No relegation break clause in Guardiola's new City contract
Pep Guardiola's new one-year contract with Manchester City does not contain a break clause should the club be relegated from the Premier League if found guilty of financial wrongdoing by an independent commission.
Lopetegui's future to be decided in next two games
Julen Lopetegui is facing two make-or-break games at West Ham, who have used the international break to explore potential replacements.
City's empire faces a set of challenges that will test Guardiola's genius
After signing deal, manager is left with an ageing squad as threat of Premier League punishment looms large
Curry changing his technique to avoid more concussions
England are making changes to Tom Curry's all-action technique to ensure his safety after he returned to the fold for Sunday's clash with Japan following his latest concussion.
Sacking me won't help Wales, insists Gatland in plea for patience
The last rites, if that is what they are, are going to drag on a while longer yet. Warren Gatland has reiterated that he would resign as head coach if it were \"in the best interests of Welsh rugby\", while also making it Very clear that in his opinion it is not.
Bronze takes 65 seconds to fire Chelsea into last eight
Chelsea cruised into the knockout stages of the Champions League with two games to spare at Stamford Bridge.
