Nov 5 Reuters The U.S. dollar fell as U.S. voters headed to the polls on Tuesday, with the results of the elections likely to decide at least the nearterm fate of the greenback.

Polls show a tight race between Republican former president Donald Trump and Democrat Vice President Kamala Harris and the most extreme currency moves will occur if the party of the new president also wins control of Congress.

Traders have pared back bets that Trump will win the presidency in recent days, in part due to some polls showing rising odds of a Harris victory. Election betting sites including PredictIt and Polymarket show Trump as the favorite though his probability of victory has declined.

We39;ve seen a little bit of the dialing back of that socalled Trump trade, which is strong dollar, high Treasury yields, said Helen Given, FX trader at Monex USA in Washington, DC.

We39;re going to see the dollar stick pretty close to current ranges, I39;d say within a quarter of a percent or so, until we start seeing trickles of results tonight, Given said.

Analysts expect Trumps policies on immigration and tariffs to stoke inflation, while tax cuts and

A Democrat sweep, conversely, could send the dollar lower as traders unwind more bets on Trump and on possible investor concern about the economic impact of higher taxes and more stringent business regulations.

Trump trades have helped to propel the dollar higher in recent weeks and caused weakness in the euro, Mexican peso and Chinese…