Donald Trump is once again in the spotlight for controversy after his wifes speech had incredible similarities with Michelle Obamas speech in 2008. A vote for Trump in November could make markets nervous, leading to a weaker US Dollar.
Donald Trump’s wife Melania was the headline at the first night of the Republican National Convention this week and certainly stole the show. Her speech had clear connections to one Michelle Obama made in 2008, astonishingly including whole sentences word for word. Sources have said that internally the Trump camp was said to be pointing fingers, however no one will be fired and they will just sweep it under the carpet. Trumps campaign has been full of all sorts of controversies and it seems unsurprising that there is further drama.
Trump last night at the GOP convention was officially announced as the Republican nomination. Whilst it’s been a fore gone conclusion for the last few months as Trump had the number of delegates required, there was always whispers of an attempt by the Republicans to stop him. Hopefully now that it’s all confirmed we will start to find out what Trump’s pledges will be and what he will actually do if elected.
Despite Trump being a business magnate and one of the world’s richest men, the markets are slightly nervous if Trump was to get elected. The uncertainty surrounding what might be some of the first challenges he undertakes could heavily impact USD. Currently Cable is trading around 30 year lows creating a great time to sell Dollars, however should Trumps campaign begin to look successful the markets could easily start to move against the Dollar. If Trump chooses to immediately implement some of his previously announced policies, the US could be increasing military spending on whats already the largest defence budget in the world.
If you have a USD requirement before the end of the year discussing it with a broker could help you to be in the best position to complete a trade at the right time.
For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.
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