Steady Dollar Expected to Drop Post-Election – 5 November, 2020

Despite a drawn out U.S. presidential election, the dollar steadied against a basket of currencies, however investors are concerned more losses as likely as hopes for a stimulus diminishes. The dollar was near an eight-month low against the yen, trading at 103.61 yen. Against the euro, the dollar was 0.87% lower to $1.1818, while sterling was up 1.23% to $$1.3128. Against a basket of six major currencies, the dollar index was close to a two-week low at 92.668, down 1.5% for the week. The onshore yuan remained near a two-year high at 6.6366 per dollar.