XE Market Analysis: Europe – Nov 04, 2020

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Risk aversion on a closer than expected U.S. election, along with Trump agitating the process with claims that his rivals are attempting to manipulate the results, has driven the dollar higher on a safe haven bid, while U.S. Treasuries have surged, driving the 10-year T-note yield down by 12 bp. The DXY dollar index rose by over 0.7% in making a high at 94.30. The S&P 500 E-mini has also racked up a 1% decline, reversing over half of the gain that the cash version of the index saw on Wall Street yesterday. There is potential for the U.S.