The New Zealand dollar strengthened against the dollar in early trading on the prospect of a position correction ahead of Tuesday's US Presidential Election. The dollar is "likely to trade broadly this week" because of the election, the Commonwealth Bank of Australia's global economics and markets research team said in a note. The team said the dollar could climb if Mr. Trump leads in the early count of votes in the live vote.
However, Democratic voters prefer to vote by mail or in person early, and those votes take longer to count, the team said. As a result, the team said Trump's lead could shrink or disappear later this week. The team added that the dollar could lose 1-2 percent of its value this week if Harris wins.
Commonwealth Bank of Australia: If Harris wins, the dollar could depreciate by 1% -2% this week.
2024-11-04 04:20:06
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