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US Dollar Soft as Traders Worry About Presidential Elections

September 26, 2016 at 22:49 by Vladimir Vyun

US dollar banknotes and coinsThe US dollar was soft today due to uncertainty associated with the US elections and presidential debates ahead of them. The greenback managed to stay flat against the Great Britain pound and the Swiss franc. Furthermore, the US currency advanced versus the Canadian dollar.

The first of the four planned presidential debates between Hilary Clinton and Donald Trump is going to happen today. Market participants are worried about the possibility of Trump gaining more votes while polls show that the race is close to a tie. Such an outcome is considered to be negative not just to the US currency but also for currencies of the US trading partners, like the Mexican peso and the Canadian dollar.

Last week was very light on economic data from the United States. This week is completely different with plenty of reports. The most important of them will be the Conference Border Consumer Confidence, durable goods orders, gross domestic product, and jobless claims. Additionally, several members of the Federal Reserve will be speaking, including Fed Chair Janet Yellen.

EUR/USD rose from 1.1224 to 1.1252 as of 22:41 GMT today. USD/JPY dropped from 101.00 to 100.32. GBP/USD stayed near its opening level of 1.2964.

If you have any questions, comments, or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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