Dollar, US futures rise as 'Trump trade' stings other assets
dollar, prompting more warnings from Japanese officials after last week's suspected intervention.
Federal Reserve Chair Jerome Powell said at an event on Monday that recent inflation data bolstered policymakers' confidence that price pressures are on a sustainable path lower.
Markets took this as another signal the first U.S. rate cut may not be far off, but investors were more preoccupied by the fallout from the attempted assassination on Saturday of former U.S. President Trump, who nominated J.D. Vance on Monday as his vice presidential running mate.
The MSCI All-World index dipped 0.1% but remained in sight of record highs. In Europe, the STOXX 600 fell 0.3%, driven lower by stocks with heavy exposure to China, such as the luxury sector, led by losses in Hugo Boss and sports car maker Porsche.
The prospect of intensifying trade tensions with the United States under a second Trump administration has hit Chinese markets hard in the past two days.
S&P 500 and Nasdaq futures were up 0.1-0.2%, suggesting a modestly higher open later on.
Opinion polls show a close race between Trump and President Joe Biden, though Trump leads in several swing states that are likely to decide the November election.
The Dow Jones hit a record closing high, thanks to energy and banking shares. Bitcoin jumped, gold climbed towards a record high and the yield curve steepened as investors favoured so-called Trump-victory trades.
«He's already the favourite, by some margin, so he's becoming even more of a favourite. I don't think
