The dollar is weakening this Monday, weighed down by a rise by Kamala Harris in polls on the American presidential election published this weekend, while the prospect of a Trump victory had previously supported the greenback. Around 10:20 a.m. GMT (11:20 a.m. in Paris), the American currency fell by 0.57% against the euro, to $1.0896, and fell by 0.35% against the pound, to $1.2970. . “The polls published this weekend have shaken the certainty with which certain market participants were able to bet on the victory of Donald Trump”noted Ulrich Leuchtmann, analyst at Commerzbank.
In particular, an influential local daily poll Des Moines Register gives Kamala Harris the winner in Iowa, a state where her Republican opponent has won in each of the last elections. However, the greenback had previously benefited from market bets on a new election for the ex-president, who plans to put in place “inflationary policies, potentially reducing the ability of the Federal Reserve (Fed) to reduce interest rates”underlined Hal Cook, analyst at Hargreaves Lansdown.
The Mexican peso is also benefiting from Kamala Harris' improving prospects for victory. It jumped 0.84% against the greenback, to 20.11 pesos per dollar. During his campaign, Donald Trump said he was considering introducing customs duties “terrible» in the event of electoral success, for “bring back» companies in the United States. As a result, the Mexican currency reached its lowest against the dollar on Friday since September 2022, at 20.29 pesos.
