Trump Bets Are Dictating Dollar’s Rally, Says Standard Chartered
- Bank estimates 60% of greenback’s gains are linked to election
- Markets price 70% chance of Trump win, according to bank
Donald Trump during a campaign event in Greensboro, North Carolina.
Photographer: Cornell Watson/BloombergThis article is for subscribers only.
The dollar’s rally this month is largely being driven by betting markets increasingly pointing to a victory for Donald Trump in the US presidential election, according to Standard Chartered Plc.
The bank calculates 60% of the US currency’s gains in October are linked to growing wagers the former president will win the Nov. 5 vote.