Greenback skids on American election jitters

3 November, 2016

On Thursday, the greenback’s losses deepened, as positioning for next week's American presidential election definitely overshadowed the Fed’s latest review, where policymakers indicated they were on track to raise rates already next month.

The greenback shed its early modest revenues and skidded against the Japanese yen with markets in Japan unavailable for a public holiday.

Last it traded at 102.57 yen, down 0.7%, thus wallowing at its lowest values since October 4 and well off its October 28 peak of about 105.53.

While Democratic nominee Hillary Clinton, considered to be the status quo candidate for financial markets, remained ahead in many surveys before Tuesday's vote, some market participants have started pricing in the possibility of victory for her Republican counterpart Donald Trump.

Meanwhile, the euro soared 0.2% to $1.1116, having ascended 0.6% as high as $1.1125, its loftiest high since October 11.


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