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I think Despite the media's intense focus on the election, the FX market is far more concerned with the Federal Reserve's policy outlook.
There may also be concerns about whether the Federal Reserve will face pressure to reduce rates more rapidly. Regardless, recent movements in the USD suggest that there is minimal correlation between the election and the USD's performance.
Currency analysts often argue that the U.S. Dollar is likely to appreciate under a Trump administration. This is attributed to anticipated lower taxes, inflationary protectionist policies necessitating prolonged higher Federal Reserve interest rates, and increased geopolitical risks enhancing the Dollar's safe-haven appeal.
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