Hillary Clinton debate victory over Donald Trump gives boost to dollar

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Hillary Clinton’s narrow debate victory against Republican presidential rival Donald Trump heaped more pressure on the pound on Monday as traders snapped up the dollar.

The Democrat contender is seen by Wall Street as the status-quo candidate for the White House compared with the uncertainty of a Trump presidency.

She maintained her poll lead after the bad-tempered clash, raising bets on the greenback.

“From a currency perspective, a Clinton win is the best outcome for the dollar and risk assets more generally,” Kathleen Brooks, research director at City Index said.

On the back of its worst week since the June 23 referendum, thanks to Conservative rhetoric over a “hard Brexit” and a mystery “flash crash”, sterling took more losses earlier.

The currency fell as low as $1.2366 at one stage before recovering slightly.

The Mexican peso also strengthened after the debate as the likelihood of Trump building his infamous “wall” threatening trade between Mexico and the US, seemed to fade.

Source Article from http://www.standard.co.uk/business/hillary-clinton-debate-victory-gives-boost-to-dollar-a3365316.html

October 10, 2016 |
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