Analyst: EM currencies to rise moderately on Harris win, fall on Trump win

Emerging market currencies should rise moderately if Harris wins the U.S. presidential election and weaken if Trump wins, said Matthew Ryan, market strategist at Ebury on Nov. 4. If Harris wins, “emerging market currencies will be mildly boosted, especially those Asian currencies that are closely tied to the Chinese economy,” the strategist said, adding that the South Korean won, Thai baht and Malaysian ringgit in particular should rise. European currencies could also rise as security risks in Europe are reduced. If Trump wins, Asian currencies will sink across the board as investors brace for higher U.S. interest rates, rising protectionism and more erratic foreign policy.