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FOMC Preview & Post Election Outlook for the Dollar
With the US Midterm Elections behind us and the Democrats victory in the House the U.S. dollar ended the day lower against most of the major currencies. The only currency that performed worse than the greenback was the Japanese Yen, which slid on the back of the risk rally. But it would be mistaken to automatically assume that investors interpreted the elections results as dollar negative because all of the selling happened during the European trading session. The U.S. dollar traded higher throughout NY trade as Treasury yields turned positive and equities soared. Many thought that a split Congress and the ... (full story)