# Euro and pound tumble as Trump storms to victory — stocks don’t know whether to laugh or cry – POLITICO

> The euro and pound fell as Trump won the US presidential election. The dollar posted its biggest one-day rise in nearly two years on expectations of tariffs, tax cuts and immigration controls. Analysts warned these policies could fuel inflation and keep the Fed's rates higher.

- Date: 2024-11-06 · published 2024-11-06T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/5811-euro-and-pound-tumble-as-trump-storms-to-victory-stocks-don-t-know-whether-to
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of higher US rates and a stronger dollar tend to pressure dollar-priced feed commodities and raise import costs for buyers outside the US.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- GBPUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2024-11-06 | 1 | -1.7% | -5.8 | Describes the biggest one-day dollar rise in nearly two years as tariff and tax-cut expectations lifted the dollar and kept Fed rates higher, pressuring the euro. |
| DXY | 2024-11-06 | 1 | +0.9% | 3.6 | Biggest one-day dollar rise in nearly two years on expected tariffs and tax cuts, which could keep Fed rates higher. |
| EURUSD | 2024-11-13 | 5 | -3.2% | -4.2 | The dollar's biggest one-day rise in nearly two years on tariff and inflation expectations reinforced Fed-higher-for-longer pricing, which weighed on the euro. |
| DXY | 2024-11-13 | 5 | +1.9% | 2.8 | Dollar's biggest one-day rise in nearly two years on tariff, tax cut and inflation expectations that keep Fed rates higher. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-07-31 | [Dollar up, stocks tumble after Fed rate outlook as pound stalls \| Malay Mail](https://feedsoft.ai/events/58020-dollar-up-stocks-tumble-after-fed-rate-outlook-as-pound-stalls-malay-mail.md) | +0.9% | +1.8% |
| DXY | 2024-11-06 | [Dollar soars, euro tumbles as Trump wins US presidential election](https://feedsoft.ai/events/5806-dollar-soars-euro-tumbles-as-trump-wins-us-presidential-election.md) | +1.9% | +1.5% |
| DXY | 2018-10-31 | [Exchange Rates News Today: Pound Sterling Best Performer, Euro Flat, Dollar Firms As Stocks Rebound \| Exchange Rates UK](https://feedsoft.ai/events/62804-exchange-rates-news-today-pound-sterling-best-performer-euro-flat-dollar-firms.md) | -0.6% | -0.0% |
| DXY | 2018-04-30 | [British Pound To US Dollar Exchange Rate Continues To Tumble As Political Uncertainties Grip Pound \| Exchange Rates UK](https://feedsoft.ai/events/65765-british-pound-to-us-dollar-exchange-rate-continues-to-tumble-as-political.md) | +1.0% | +2.2% |
| DXY | 2017-11-01 | [U.S. Dollar Edges Higher as Trump Picks Powell to Head Fed - WSJ](https://feedsoft.ai/events/68152-u-s-dollar-edges-higher-as-trump-picks-powell-to-head-fed-wsj.md) | +0.1% | -1.2% |
| EURUSD | 2025-09-01 | [French political storm: What it means for bonds and the euro](https://feedsoft.ai/events/23535-french-political-storm-what-it-means-for-bonds-and-the-euro.md) | +0.5% | +0.3% |
| EURUSD | 2019-07-31 | [Dollar up, stocks tumble after Fed rate outlook as pound stalls \| Malay Mail](https://feedsoft.ai/events/58020-dollar-up-stocks-tumble-after-fed-rate-outlook-as-pound-stalls-malay-mail.md) | +0.4% | -0.5% |
| EURUSD | 2024-11-06 | [Dollar soars, euro tumbles as Trump wins US presidential election](https://feedsoft.ai/events/5806-dollar-soars-euro-tumbles-as-trump-wins-us-presidential-election.md) | -3.2% | -3.2% |

## Sources

- politico.eu: https://www.politico.eu/article/euro-pound-tumbling-donald-trump-victory-stock-markets-dollar-financial-markets/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.