The dollar fell and stocks struggled on Monday as investors trod carefully ahead of a U.S. presidential election of great consequence for the global economy, with a U.S. Federal Reserve interest rate cut also expected later in the week.
In the U.S. presidential race, Democratic candidate Kamala Harris and Republican candidate Donald Trump remain virtually tied in opinion polls ahead of Tuesday's vote. It might not be clear who has won for days after voting ends.
Trump's policies on immigration, tax cuts and tariffs may put upward pressure on inflation, bond yields and the dollar, analysts believe, while Harris is seen as the continuity candidate.
The dollar index =USD, which measures the greenback against a basket of currencies, eased 0.3% to 103.63.
The dollar slid against a host of European and Asian currencies, losing 0.6% against the euro EUR=EBS to $1.090. It also tracked down 0.6% against the Japanese yen to 152.11 JPY=EBS and 0.5% against China's yuan in the onshore market CNY=CFXS.
The US election is fast approaching, marking a pivotal moment in American politics as the nation gears up to decide its next leader.
Kamala Harris, representing the Democratic Party, and Donald Trump, running for the Republicans, are expected to engage in a very tough battle.
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United States Vice President Kamala Harris and former president Donald Trump duelled across the swing states on Saturday marking the final weekend of one of the tensest US elections of modern times.
The Democratic presidential candidate urged voters to "turn the page" on the Republican's scorched-earth brand of politics.
The political hemisphere in the United States is shaped by two dominant parties: the Republicans and Democrats, solidifying a two-party system in the country.
However, this binary structure is relatively recent in American history as the founding fathers, who designed the framework for the nation's governance, notably made no mention of political parties.
Alexander Hamilton, one of America's most influential founding fathers, referred to parties as "the most fatal disease".
Voters can still cast their votes for the presidential election despite being a dual citizen of the United States.
What is dual citizenship?
A person with a dual citizenship is the national of two countries at the same time. In this case, a US citizen is also a national of some other country. It provides that person the rights, benefits, and responsibilities across two countries.
Dual citizens are also obligated to obey the laws of both the countries.
It is essential for US citizens living abroad to complete an official overseas voter registration and ballot request form to vote in the US presidential election.
The United States Vice President Kamala Harris and former president Donald Trump are approaching the November 5 election showdown — one of the closest contests in modern American history.
In the handful of critical states framing the 2024 race, there is little daylight between the rivals with some time before Election Day.
The election in the United States is always held on the first Tuesday of November in every four years but why was this specific day chosen to be the day for every election?
Before, election day varied state by state all across the US. However, in the 1845, a law was passed to set a day on which the entire country would observe the general election.
This led to the first Tuesday of November being designated as the election day in the US.
The US House of Representatives is responsible for making and passing federal laws. It is one of the two chambers of the US Congress, the other is the US Senate.
The members of the House were to be directly elected by the people according to the constitution of the US.
As per the Section 2 of the Article 1 of the US constitution, "The US House of Representatives shall be composed of Members chosen every second Year by the People of the several States, and the Electors in each State shall have the Qualifications requisite for Electors of the most numerous Branch of the State Legislature."
Unlike most democracies where presidents are elected by popular vote, the United States uses an Electoral College system.
Voters cast ballots that indirectly choose 538 electors, who then decide the presidency with a majority of 270 votes required to win.
This system has led to cases where candidates win the presidency without the popular vote, sparking debate over its role in modern American democracy.
The 538 members of the US Electoral College gather in their state's respective capitals after the quadrennial presidential election to designate the winner.
The US president is elected by a process known as Electoral College, which was established by the founding fathers.
It is a method, where a group of electors is selected to formally elect the president of the United States for four years. It comprises 538 electors, matching the total of congressional representatives.
Each state selects its own electors based on population size. As the population is not fixed, the number of electors assigned to each state may fluctuate accordingly.
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