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Warren Versus Trump ‘Spend Fest’ May Finally End Dollar’s Rally

  • An Iowa poll just showed Warren in the lead to take on Trump
  • U.S. deficit will swell under both, hurting dollar: Jefferies
Elizabeth Warrenspeaks during an event at Washington Square Park in New York on Sept. 16.
Elizabeth Warrenspeaks during an event at Washington Square Park in New York on Sept. 16.Photographer: Jeenah Moon/Bloomberg

A 2020 U.S. presidential election that pits Democratic hopeful Elizabeth Warren against President Donald Trump could finally crack the dollar’s multiyear rise, according to Jefferies LLC.

Analysts are evaluating the scenario after a poll released Saturday showed Warren took the lead in Iowa, a state that plays a key role in deciding who takes on Trump.