According to BlockBeats, on November 6, Adam Button, an analyst at the financial website Forexlive, said, “I’m not sure what the foreign exchange market wants to tell us today, but all the declines in the US dollar earlier today have been wiped out.”
The main argument I've heard for the dollar's rise over the past month is a "Republican big win." The idea here is that Trump and the Republicans will increase deficits, cut taxes and keep yields high. In after-hours trading, shares of Trump Media & Technology Group (DJT.O) also rose nearly 20%, and Tesla's stock price also surged.
I think the main driver was the exit polls in Georgia, which favored Trump. However, early voting in suburban Georgia favored Harris. The Florida vote was also very much in favor of Trump. (Jin Shi)