The US dollar had a small decline in todayâs trading against the euro and the British pound as nervous traders anticipated the result of todayâs election race between Democratic candidate Hillary Clinton and Republican Donald Trump.
Latest opinion polls showed that Clinton has a lead over Trump after FBI Director James Comey told Congress on Monday that the agency found no evidence to support criminal charges against the Democratic candidate, which raised tradersâ hopes for a win by Clinton in todayâs presidential election.
Dollarâs exchange rate has been jittery against major currencies today after it had a positive surge following yesterdayâs FBI announcement. Traders are being very cautious after learning from opinion polls during the days leading to the UKâs Brexit referendum that small gaps in polls can lead to unexpected results.
In the case of an election result that hands the White House to Donald Trump, the greenback will likely have a sharp decline as investors return to the safety of haven currencies and assets like the Japanese yen, Swiss franc, and gold.
EUR/USD traded at 1.1047 as of 17:09 GMT today after closing on Monday at 1.1040. The pair touched its lowest level for the day at 1.1030 at 04:40 GMT. GBP/USD declined to 1.2384 after touching 1.2438 at 10:23 GMT. GBP/USD opened the day at 1.2392 after dropping on Monday to 1.2382.
If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.
Be First to Comment