The dollar is strengthening amid Trump's growing chances of victory

On the eve of the US presidential election, the dollar is showing growth – investors expect the victory of Republican Donald Trump.

The current quote of the EUR/USD pair is about 1.0880 (daily low of 1.0875), the USD index is located at 103.28.

Recent polls have shown an improvement in Trump's position, which has had a positive impact on the dollar exchange rate. Analysts attribute this trend to the fact that Trump's policy of tougher trade duties is perceived as favorable for the US currency.

Despite the forecast of a slight depreciation of the dollar by the end of the year, a significant increase in its value is expected in the period up to the end of 2024.

At the same time, the market is confident that the European Central Bank will cut the rate by 25 bps this week. This move is expected to bring no surprises and the euro will continue to weaken. Due to the fact that market expectations coincide with economists' forecasts, the EUR/USD pair will depend most on events in the United States in the near future.