Dollar widens losses ahead of mid-term elections
Dollar fell against most major rivals on Monday as risk appetite oscillates, losses mount ahead of Congressional elections. Tomorrow, the mid-term elections for both houses of Congress will be launched, with the Republican Party expected to remove Democrats from their current majorities.
- Important US inflation data will be released later this week, and will help investors predict future Fed steps.
- Recent US data released last week showed the economy added 261 thousand jobs in October, while analysts expected an addition of 220 thousand.
- US unemployment rose to 3.7% last month from 3.5% in September, while analysts expected 3.6%.
- The Fed decided last week to raise interest rates by 75 basis points as expected.
- The dollar index fell 0.6% to 110.2 as of 18:25 GMT, with a session-high at 111.2, and a low at 110.1.