Mitsubishi UFJ analyst Derek Halpenny said that if Republican candidate Trump wins the US Presidential Election on November 5, the dollar and the US stock market could rise, at least at first. Trump said in an interview with the media last week that there is a higher risk that he will raise tariffs faster than during his first term as president. However, the dollar's nearly 4% gain in October shows that this has been digested and could limit the dollar's gains. If Trump wins, the euro could fall below 1.0500 against the dollar, but it would still be above parity.