The US dollar looked set to extend its gains in Asian Market opening trades today as the markets are counting down to the U.S. presidential election in two weeks. Election polls show rising odds of former President Donald Trump winning the Nov. 5 election and are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high and undermine currencies of trading partners. Currency moves in major markets last week were driven by the European Central Bank\'s dovish rate cut and strong U.S. data that pushed out expectations for how fast U.S. rates can fall, particularly if Trump wins the presidency. In major currencies today, the yen was down 0.1% at 149.21 per dollar, staying on the stronger side of 150 per dollar. The euro stood flat at $1.0866, and sterling was also flat around $1.3045. The dollar index measure against major rivals was at 103.45. With just 15 days to go until the U.S. election, traders need to decide if now is the right time to start placing election trades with greater conviction. The Indian rupee opened marginally stronger at 84.06/07 against its previous session’s close of 84.07/08 and is expected to trade between 84.00 – 84.10 band today.
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