Harris Leads Trump in Polls, Dollar and Bitcoin Both Fall, "Trump Trade" Continues to Weaken

Harris Leads Trump in Polls, Dollar and Bitcoin Both Fall, "Trump Trade" Continues to WeakenEarly Monday in Asia, the US dollar index fell below the 104 level, currently trading at 103.93

Harris Leads Trump in Polls, Dollar and Bitcoin Both Fall, "Trump Trade" Continues to Weaken

Early Monday in Asia, the US dollar index fell below the 104 level, currently trading at 103.93. Bitcoin also fell over 5% from last weeks high of $73,500 to $68,805. The weakening dollar is interpreted by the market as a signal of waning investor confidence in a Trump victory.

The "Trump trade" is characterized by rising US Treasury yields and a strong dollar, while Trump himself has shown support for cryptocurrencies. However, recent market performance has been contrary to the "Trump trade."

Notably, a poll released on Saturday showed Vice President Harris slightly ahead of former President Trump in Iowa. Analysts generally believe that Iowa is a deep red state, and both candidates are focusing their final campaign efforts on other states. Predictors have given almost no chance of a reversal in Harris' lead in Iowa.

Currently, the latest US election polls show a tight race between Harris and Trump, with no clear advantage for either side. The outcome of this historic election remains uncertain, and the market will continue to monitor the latest developments.

Analysts point out that the weakening dollar is not only related to the weakening "Trump trade" but also to uncertainties about the global economic recovery. Recently, the COVID-19 pandemic has continued to spread globally, slowing the pace of economic recovery in various countries, making investors cautious about risk assets and leading to a decline in demand for the dollar.

The decline in Bitcoin prices is related to the weakening dollar and a decline in market risk appetite. As a digital asset, Bitcoin's price fluctuates significantly and is susceptible to market sentiment. When market risk aversion rises, investors tend to sell risk assets, leading to a decline in Bitcoin prices.

Overall, Harris leading in the polls and the simultaneous decline in both the dollar and Bitcoin reflect the market's weakening confidence in a Trump victory and concerns about the global economic recovery outlook. In the future, as the election results draw closer, market volatility is likely to increase, and investors need to pay close attention to market changes and invest cautiously.