The ambiguity of the US elections is dropping the dollar to its lowest level in two years
the lowest level for the US currency since May 2018.
Jerusalem24 – The dollar fell to its lowest level in more than two years against the Chinese yuan, and fell against other Asian currencies, in light of the ambiguity of the US election results, especially since Democrat candidate Joe Biden has come closer to the White House.
The pound retreated against the dollar and the euro, after media reports said that the Bank of England, which is set to announce a policy decision late Thursday, is studying negative interest rates.
Analysts say expectations that the Biden administration will adopt a less aggressive tone on trade policy are likely to weaken the dollar against the currencies of countries that usually face the threat of tariffs under the Trump administration.
By 12:50 Palestine time (10:50 GMT) Thursday, the index, which measures its performance against six major currencies, fell by 0.54% to 92.91 points, the lowest point for the US currency since May 2018.
