Dollar falls and shares surge as US election ‘clips Trump’s wings’ – business live | Business

“Nevertheless, domestic political unrest may throw a spanner in the works for the dollar, as Trump’s relations with the Democrats will be essential in the coming months to determine the course of politics.

Potentially Trump, who was once a member of the Democratic Party, may manage to come together with the Democrats and agree on broad tax cuts for the middle class. This could be a boost for the economy and the dollar, assuming markets don’t start to fret about the increasing government deficit. Chances are higher that the Democrats will seize the opportunity to use their new control of certain commissions in the House to step up the investigations in Trump’s tax dealings, relations with Russia and claims of hush money payments.

The menacing club of government shutdowns will be the Democrats’ to yield every time Trump goes too far out of line to their taste in the coming months. The dollar may, in the end, get the biggest whack from this.”

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