GLOBAL MARKETS-Stocks higher, dollar extends losses on Biden win

Wall Street stock futures started strong on Monday while the dollar extended its downward trend as risk assets got a boost on expectations of fewer regulatory changes and more monetary stimulus under U.S. president-elect Joe Biden. The Democratic candidate’s victory at the U.S. Presidential election was largely priced in by markets, which had been trading with the view of a Biden presidency and a Republican-controlled U.S. Senate late last week. “What appears to be divided government at this point provides more continuity of the current environment rather than the potential for wide-sweeping changes,” said wealth manager Jim Wilding at Confluence Financial Partners in Pennsylvania.

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