Over the next 30 days is a good opportunity to load up on the yen and certainly, if we don’t get a fiscal deal then the yen would be a good place to hide going into the election. But I wouldn’t buy the yen after the election at least if not if Biden wins.
If Biden wins, emerging markets are the place to be because his trade policy is much more benign for emerging markets and we know how emerging markets thrive when dollar liquidity is added and when world trade rebounds.
Andreas Steno Larsen, chief global strategist at Nordea Markets, discusses his call on currencies ahead and after the U.S. election. He speaks on “Bloomberg Daybreak: Europe.”