The dollar is weaker this morning ahead of the polls opening for the 2020 US election. An estimated 100 million people have already cast their vote and it’s set to be the biggest turnout in a century. Joe Biden still leads in the polls, but the race is closer in key swing states that could determine the final outcome.
The two candidates have engaged in some last-minute campaigning in these battleground states. We could know the result as early as 4am tomorrow (GMT), although there is some talk that there will be a delay due to the large number of mail-in ballots, which could benefit the dollar.
The US election is nearly here and we could see significant currency fluctuations. If you haven’t done so yet, read our handy election guide and ensure that your transfers are protected from movements in the currency market.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
