DXY: US dollar index retreats as traders predict a Biden victory

The US dollar index (DXY) has fallen by more than 0.80% today as traders remain optimistic about the election. The index is trading at $93.42, which is significantly lower than yesterday’s high of $94.30. The dollar index is falling today as traders assess the risks posed by today’s vote in the United States. While polls have shown that Joe Biden will win the presidency, they also understand that polls tend to be wrong. They were wrong in the 2016 election and during the Brexit poll. The market hopes that the end of the election will bring clarity about US policies regardless of who wins. Also, it expects that … (full story)

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