Republican nominee Donald Trump is leading the U.S. presidential race and is on track to become the 47th president, outpacing Democratic nominee Kamala Harris in key battleground states, including the critical swing state of North Carolina. This momentum has bolstered the U.S. Dollar (USD) and lifted global stock markets.
The current electoral count stands at 227 for Trump and 189 for Harris, with Trump also securing other pivotal states—Arizona, Georgia, Michigan, Pennsylvania, and Wisconsin.
Fox News has projected that Republicans will retain control of the U.S. Senate. In a significant win, Trump-endorsed candidate Bernie Moreno is set to unseat Democratic Sen. Sherrod Brown in Ohio, flipping another crucial seat for the GOP, according to CNN News.
The main focus now shifts to the House of Representatives. A Democratic majority there could lead to a divided government, potentially causing policy gridlock under a likely Trump administration. Democrats need to gain just four seats to secure control of the House; however, Republicans are holding a narrow majority and working to defend it.
Market Reaction:
The U.S. Dollar is holding onto its recent gains against major currencies. Currently, the U.S. Dollar Index (DXY) stands around 104.90, marking a 1.40% rise on the day.
