The count is down to four states, and Democratic candidate Joe Biden is in pole position to replace President Donald Trump in the White House. So far, Biden won 253 electoral college votes and 270 are needed to clinch the presidency. Markets see a delayed outcome rather than a contested one, Yohay Elam, an Analyst at FXStreet, reports.
Key quotes
“Nevada: Biden’s lead has widened in the latest count, and most of the remaining votes are from Clark County, home to Las Vegas, which is leaning toward the Democrats. The state awards six electoral college votes. Updates are due late in the day.”
“Arizona: Trump has narrowed the gap against Biden but that may be insufficient to win the Grand Canyon State. Updates from Maricopa county, home to Phoenix, are awaited. The state awards 11 electoral college votes. If the count were stopped as Trump demands, Biden’s leads in both western states would bring the Democrat to 270 EVs needed to win.”
“Georgia: Trump’s lead has narrowed to only 665 votes, with the remaining ones coming from Democratic-leaning counties. Biden may win the state, that could go see a recount. The most recent data dump has come from Clayton county, which went 87% to Biden. It has yet to report additional votes there. The recent updates put Senator John Perdue at just under 50% – potentially triggering a runoff that could change the composition of the upper chamber. Georgia awards 16 electoral college votes.”
“Pennsylvania: The northern state grants 20 electoral votes, meaning that it can bring Biden over the top on its own. Trump leads by fewer than 20,000 votes and the remaining votes come from Philadelphia and other Democratic-leaning areas.”
“Markets want a decisive outcome, not a contested one. The safe-haven dollar may extend its falls if the picture becomes clearer for Biden, and it could gain if the elections become contested.”
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