US dollar faces election uncertainty as polls open, Currencies Direct says

By Public Technologies
  • The US dollar faced selling pressure as falling oil prices reduced safe-haven demand; stronger-than-expected ISM manufacturing growth tempered losses.
  • Global oil prices tumbled over 6% on Monday amid Middle East diplomatic hopes, weighing on the Canadian dollar.
  • Sterling gained broad support as UK 10-year gilt yields fell to their lowest levels since early September.
  • The euro rallied on Monday, supported by its strong negative correlation with the US dollar.
  • Australia's dollar retreated overnight following the Reserve Bank of Australia's split decision to raise interest rates with dovish guidance.


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