What's that about election jitters again?
The market is seemingly less worried about a tightly contested election for the time being as we see the dollar sold off in European morning trade, while stocks are feeling rather comfortable with European indices pushing near 2% gains now.
US futures are also trading up by over 1% currently while 10-year Treasury yields just hit a five-month high of 0.879%, up by over 3 bps on the day.
The overall mood on the session is weighing on the dollar and yen as we see both currencies dragged lower with AUD/USD up by over 1% now to 0.7132 and contesting its 100-day moving average @ 0.7117.
Elsewhere, GBP/USD is also nudging higher to near 1.3000 and a test of its 200-hour moving average with offers also layered at the figure level for now.
Despite the relatively upbeat tone, this is somewhat reminiscence of the 2016 election day where equities bottomed on the results and not ahead of the votes.
This time around though, the market may also be gearing itself up for a 'blue wave' outcome but we'll see once we get into the count later in the night.
