The US dollar has continued to weaken against a basket of currencies while uncertainty around the next US president election increases. Polling data from Florida and North Carolina is now in favour of Trump, making the election result even more unpredictable.
Yesterday evening saw a statement from the Federal Open Market Committee (FOMC) where, as expected, they kept both interest rates and their programme of quantitative easing on hold. Expectation is very much for an increase in US interest rates next month.
Looking forward to today, we have unemployment claims data and ISM non-manufacturing Purchasing Managers’ Index (PMI) data due. Any upsets could cause US dollar movement, but the key focus will still be on election uncertainty in the run-up to next week’s polling.
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