0747 GMT – Trump trades have boosted the dollar across the board and put the yuan under pressure, ING strategists say. ( fabiana.negrinochoa@wsj.com )Dollar Hits 4-Month High on Trump Trade0741 GMT – The dollar rises to a four-month high as investors position for the prospect of Donald Trump winning the U.S. presidential election. The Trump trade are bets that his proposed policies, including lower taxes and trade tariffs, will be inflationary and lead to higher interest rates. USD/MXN is ripping toward the 21 handle amid concern that a Trump win will renew trade barriers with Mexico. BMI expects a Trump win this time to cause the peso to weaken about 9% to 22 against the dollar by end-2024.

Source: Wall Street Journal November 06, 2024 11:21 UTC