US DOLLAR INDEX JUMPS TO NEAR 104.30 US POLITICAL UNCERTAINTY DAMPENS MARKET SENTIMENT
- The US Dollar rises further as market participants see Donald Trump winning Presidential elections this year.
- Investors expect that the Fed cut interest rates twice this year.
- Fed Williams and Bostic are scheduled to speak on Friday.
The US Dollar (DXY), which tracks the Greenback’s value against six major currencies, extends its upside to near 104.30 in Friday’s European session after a sharp recovery from an almost four-month low of 103.65 this week. The US Dollar’s (USD) appeal improves amid deepening speculation that the United States (US) Republican Party will come into power in presidential elections scheduled later this year.
The assassination attempt on Donald Trump and expectations that US President Joe Biden could drop his re-election bid have increased the possibility of Republicans coming out victorious in elections.
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