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U.S. dollar dips as U.S. midterm election fuels uncertainty

Source: Xinhua| 2018-11-06 05:03:01|Editor: huaxia
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NEW YORK, Nov. 5 (Xinhua) -- The U.S. dollar slid against most other major currencies in late trading on Monday as investors are concerned over the volatility for global markets that brought about by the U.S. midterm elections scheduled on Tuesday.

U.S. citizens will cast their vote on Tuesday. So far, Democrats have garnered a high chance of regaining control of the U.S. House of Representatives, while Republicans may keep their Senate majority.

Yet such uncertainty was softened by Friday's upbeat jobs report that showed employment rose drastically in October, with average earnings up 3.1 percent year-on-year and unemployment rate unchanged. Such signs of a robust domestic economy boosted U.S. Treasury yields on ten-year maturities up to 3.191 percent on Monday.

In late New York trading, the euro rose to 1.1417 dollars from 1.1392 dollars in the previous session, and the British pound was up to 1.3048 dollars from 1.2964 U.S. dollars in the previous session. The Australian dollar was up to 0.7216 dollar from 0.7192 dollar.

The U.S. dollar bought 113.22 Japanese yen, lower than 113.27 Japanese yen of the previous session. The U.S. dollar decreased to 1.0039 Swiss franc from 1.0043 Swiss franc, and it decreased to 1.3108 Canadian dollars from 1.3112 Canadian dollars. Enditem

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