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Dollar Retreats on US Election And EUR/USD Surges

Adel 5 November, 2020 2:53 pm Daily Economic Reports, Economic Report, Market Update

The US dollar weakened against major currencies on Thursday as uncertainty over the US presidential election persists.

This morning the euro was trading at 1.1799 against the dollar. The EUR/USD recently jumped to a weekly high above 1.18 as investors are optimistic about Biden’s victory in the elections.

In the US elections, Democratic candidate Joe Biden is leading the way. The Trump campaign has pledged to challenge the results in a number of states, citing possible errors and other issues.

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