Dollar Falls as US Presidential Election Looms

Alsharq Tribune- Mohamed Otaify

The dollar softened on Tuesday amid anticipation of the US presidential election which sees a tight race between Republican candidate Donald Trump and his Democratic rival Kamala Harris. The US dollar slumped as much as 0.76 % against the euro to a three-week trough after a weekend opinion poll showed Harris with a surprise lead in Iowa, a traditional Republican stronghold. The dollar index, which measures the currency against six major peers including the euro, was flat at 103.91, after slumping as low as 103.67 on Monday for the first time since Oct 21. Last week it surged to the highest since the end of July at 104.63. The euro was little changed at $1.0877, after lifting to $1.09145 in the previous session for the first time since Oct 15. Against the yen, the dollar traded at 152.365 after slipping to 151.54 overnight, a one-week low.