European markets close slightly higher
European markets closed slightly higher on Tuesday as global markets awaited the outcome of the U.S. presidential election.
The pan-European Stoxx 600 added 0.07%, as sectors and major bourses diverged. Industrial stocks added 1.2%, while health care stocks lost 1.87%
— Karen Gilchrist
Currency market volatility spiking with election
The dollar index fell 0.3% to 103.58 on Tuesday as traders brace for the results of the U.S. presidential election.
“Markets are holding their breath as America votes, with expected currency volatility across short tenors hitting levels we haven’t seen since the 2020 election showdown or the Brexit vote of 2016,” said George Vessey, lead FX strategist at Convera.
Vessey added that volatility in the exchange rate between the greenback and the Chinese yuan has surged to highs from the 2020 election. The dollar was last down 0.1% on the day at 7.10 yuan. Week to date, the dollar has weakened 0.5% against the yuan.
— Hakyung Kim
U.S. stocks rise as Wall Street awaits election result
Wise climbs 8.6% after Standard Chartered announces partnership with the British payments company
Financial technology company Wise added over 8% on Tuesday after climbing throughout the morning.
The gains come after Standard Chartered announced that it would use Wise’s payments platform to boost its cross-border payments offering for retail customers.
Standard Chartered customers in Asia and the Middle East will be able to send money in…
