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Dollar weakens on ‘Trump trade’ doubts

4 November 2024
in Business
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Dollar weakens on ‘Trump trade’ doubts
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The dollar weakened on Monday after polls showed a deadlocked presidential race between Kamala Harris and Donald Trump, with a shift favoring Democrats noted in Iowa. Asian currencies gained against the dollar, as expectations of a Trump victory and strong economic data had boosted the dollar previously. The US Federal Reserve is expected to cut interest rates after the election, following a weak jobs report for the Biden administration on Friday.

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