As the 2024 U.S. presidential election draws near, market analysts anticipate increased uncertainty and volatility. The competition between Vice President Kamala Harris and former President Donald Trump remains fluid, with Harris holding a slight edge in key battleground states, according to polls. Despite the potential market risks posed by this unpredictable environment, strategists suggest not making drastic changes to portfolios based solely on electoral forecasts. UBS advises investors to hedge against potential volatility surrounding the election through various strategies. The Swiss franc and gold are recommended as effective hedges during times of political uncertainty. The Swiss franc is seen as a safe-haven currency, especially since the Swiss National Bank is not expected to make significant rate cuts. Gold serves as a hedge against concerns regarding the stability of the U.S. dollar, which could be impacted by geopolitical tensions or the U.S. fiscal deficit. UBS also suggests utilizing structured strategies to maintain exposure to stock market gains while reducing sensitivity to temporary corrections. Additionally, investors are cautioned about overreacting to polling data as the election outcome is not the sole driver of financial market returns. Economic indicators and Federal Reserve rate expectations are likely to have a more substantial influence on market movements. In terms of specific investments, stocks in the U.S. consumer discretionary and renewables sectors are identified as sensitive to election outcomes. The Chinese yuan is also highlighted as a currency where managing overexposure may be prudent due to potential election-related volatility.