WEB COMMENT-Stronger Harris footing may see dollar shoe drop
The dollar could weaken if the probability of victory for Democratic presidential candidate
The dollar could weaken if the probability of victory for Democratic presidential candidate Joe Biden increases, according to analysts.
Biden's lead in the polls has widened in recent weeks, and he is now seen as the favorite to win the election.
If Biden wins, it could lead to a weaker dollar because he is seen as more likely to pursue policies that would increase government spending and reduce the trade deficit.
WEB Stronger Harris footing may see dollar shoe drop
The dollar's weakness could be exacerbated if Kamala Harris, Biden's running mate, is seen as a strong candidate to succeed him.
Harris is a popular figure among Democratic voters, and she is seen as a potential future leader of the party.
If Harris is elected president, it could lead to a further weakening of the dollar because she is seen as even more likely than Biden to pursue policies that would increase government spending and reduce the trade deficit.
WEB BUZZ-COMMENT-Stronger Harris footing may see dollar shoe drop
The dollar's weakness could also be influenced by the outcome of the other races on the ballot in November.
If Democrats win control of the Senate, it could lead to a weaker dollar because it would increase the likelihood of legislation being passed that would increase government spending and reduce the trade deficit.
However, if Republicans retain control of the Senate, it could lead to a stronger dollar because it would reduce the likelihood of such legislation being passed.
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