The dollar and U.S. equities are likely to rise if Republican candidate Donald Trump wins the U.S. presidential election on November 5, per MUFG

The dollar and U.S. equities are likely to rise if Republican candidate Donald Trump wins the U.S. presidential election on November 5, per MUFG.

The dollar and U.S. equities are expected to rise—at least initially—if Republican candidate Donald Trump wins the U.S. presidential election on November 5, according to MUFG Bank.

A recent Trump interview with Bloomberg indicates a heightened likelihood that he may implement inflationary tariffs more rapidly than in his previous term, MUFG analyst Derek Halpenny noted in a report.

However, the dollar’s near 4% increase in October suggests that some of this is already priced in, which may cap further gains, he added.

Early Tuesday, the DXY index, tracking the dollar against a basket of other currencies, rose by 0.1%.