U.S. dollar rises slightly Tuesday night as presidential election winds down

The U.S. dollar strengthened slightly against other global currencies as voting in the presidential election wound down. The British pound and euro were down slightly against the dollar, while the Australian dollar dipped. The foreign exchange market is expected to react quickly to election results, with traders watching the dollar closely for signals. A strong night for Trump and Republicans could push the dollar higher due to proposed trade tariffs. Market participants seem prepared for a scenario where Trump wins, but there could be a significant dollar down move if there is not a red sweep or if Kamala Harris wins.