Greenback extends its slide as election uncertainty weighs
On Wednesday, the greenback traded lower against other key currencies, thus extending its losses into a second trading session as new surveys indicated that the gap’s narrowing between the American presidential candidates ahead of next week’s election.
The US dollar index, gauging the greenback’s strength against a trade-weighted basket of six key currencies, dropped 0.24%, reaching 97.52, the lowest value since October 13.
Surveys on Tuesday indicated an increasingly uncertain result for the American presidential election.
A great number of traders have been betting on a victory for Democratic nominee Hillary Clinton, although Friday’s announcement that the FBI intends to review more emails related to her private email use when Hillary was secretary of state generated fresh uncertainty onto the race.
The Japanese yen, which traders often purchase during times of market uncertainty, managed to gain ground, with USD/JPY tumbling 0.55% at 103.57.
EUR/USD surged 0.34%, trading at 1.1093.