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.
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This story is from the November 05, 2024 edition of The Guardian.
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