Trump's victory brought a strengthening of the USD against other currencies

[Zerologic]

The US election is almost assured that Trump will be the winner over Kamala Harris. From the Associated Press, Trump currently gets 72,083,871 votes (51%) and Harris gets 67,274,910 votes (47.6%).

The EURUSD, and GBPUSD currency pairs plunged, while USDJPY surged as the US dollar strengthened. Meanwhile, on the gold market, prices fell sharply because of Trump's victory.

Trump's promise of an aggressive expansion of US tariffs on all cross-border trade has caused the USD to strengthen against other currencies. Trump has vowed across-the-board tariffs of 10% to 20% on all imports coming into the United States and tariffs of 60%-100% on Chinese imports.

 

[Simon54]

Agreed, we all can see that on charts with different currency pairs that USD has changed the gear post US election result and picked up the flight to go higher from where it was.

 

[Xavier1]

Trump's apparent victory over Harris has strengthened the USD, causing EURUSD and GBPUSD to drop while USDJPY surged. Gold prices also fell. His aggressive tariff policies, including 10-20% on all imports and 60-100% on Chinese goods, have fueled market volatility and currency shifts.

 

[Zerologic]

If we look at the dollar index (DXY), we can see a decline in the value of the USD since mid-January after Trump's tariffs were often in the spotlight on financial markets. The Canadian dollar weakened sharply after Trump's tariffs on Canada were implemented, but it fell again afterward and the USD appeared weaker

 

[MonicaGong]

If we look at the dollar index (DXY), we can see a decline in the value of the USD since mid-January after Trump's tariffs were often in the spotlight on financial markets. The Canadian dollar weakened sharply after Trump's tariffs on Canada were implemented, but it fell again afterward and the USD appeared weaker

Are you expecting a deeper drop or a bounce back?

 

[Zerologic]

Are you expecting a deeper drop or a bounce back?

If look at the technical pattern, the dollar index can gain traction to rise, but we will see later whether the FOMC minutes can give a boost to the USD.

 

[MonicaGong]

If look at the technical pattern, the dollar index can gain traction to rise, but we will see later whether the FOMC minutes can give a boost to the USD.

Yeah, you are right. Let's see whathappens