Caution Limits Bullish Dollar’s Path Ahead of The Elections

There was a state of caution Tuesday, hours before the polls open in the United States, as investors prepare for a possible wave of the volatility after the elections.

The US dollar fell by 0.2% against a basket of currencies to trade at 93.831, and the dollar hit its highest level in a month on Monday.

Analysts said that Biden’s victory is weakening the dollar as he is expected to spend large sums on the stimulus or take a freer approach in terms of trade, which would support other currencies against the US dollar.