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James Politi, FT's Washington Bureau Chief, shares insights on what to expect as US election results are released, emphasizing market reactions and key battleground states. He discusses the uncertainty surrounding the election amidst legal battles. Anu Adeoye, FT's West Africa correspondent, highlights the rise of the Nigerian fintech company MoneyPoint as it achieves unicorn status, addressing the innovation in banking solutions tailored for a cash-centric economy and its potential impact across Africa.
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Quick takeaways
- Investor sentiment shifted as polling in Iowa suggested Kamala Harris could lead, causing the dollar to decline and increasing uncertainty about election results.
- The rise of Nigeria-based fintech Moniepoint to unicorn status highlights its vital role in improving banking access amid prevalent cash transactions and unbanked populations.
Deep dives
Investor Sentiment and Election Dynamics
Investor sentiment surrounding the U.S. presidential election significantly shifted as polls indicated a potential lead for Kamala Harris in Iowa, a state previously won by Trump. This change contributed to the dollar's decline and falling U.S. treasury yields as market participants reconsidered their forecasts related to Trump's policies, which could lead to inflation and slower interest rate cuts. The uncertainties heading into Election Day raised questions about when a winner could be determined, especially given the close nature of the race and the rules surrounding mail-in ballots in key states. The patterns observed in Florida and other early-counting states are crucial indicators for both candidates, adding to the tense anticipation of election results.
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