Trump says it will be party time after his victory in the 2024 Presidential election.
READ MORE:The US dollar weakened on Monday as investors reined in their bets on a victory for Donald Trump in the presidential election.
Investors believe that his policies on immigration, tariffs, and tax cuts will drive inflation higher and bolster the dollar's strength. Meanwhile, Harris is seen as the continuity candidate. Yields on US government debt also dropped on Monday, after the polls suggested investors were underestimating the possibility of a win for Harris.
A so-called Red Sweep refers to the Republicans winning not only the presidency, but also both houses of Congress. Trump Media stock, however, reversed earlier losses to rise around 2 percent in afternoon trading on Monday, after suffering its largest ever percentage decline last week. After peaking at 9.1 percent in June 2022, inflation is now easing toward the Federal Reserve’s 2 percent target.
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