Today, the big event is likely to be the US midterm elections. Polls suggest that there is an increasing likelihood for Democrats to take control of the House, but the chances of gaining the majority in the Senate are less. The pound was the main winner among the G10 currencies, as Brexit optimism continued to provide support for the currency. The Aussie took the second place, but at the time of the RBA decision, it didn’t react much.
US Midterm Elections Take Center Stage
The dollar traded lower or unchanged against the other G10 currencies on Monday. It lost ground against GBP, AUD, EUR, and NZD in that order, while it stayed within a narrow range of ±0.10% versus the others.
Today, investors are likely to be sitting in the edge of their seats in anticipation of the outcome of the US midterm elections. All 435 seats in the House will be contested, as well as 35 of the 100 seats in the Senate. Currently, the Republicans hold the majority in...
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