Forex – U.S. Dollar Steady as Midterm Elections Kickoff

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Investing.com – The dollar was steady as investors paused, while U.S. midterm elections kicked off.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched up 0.02% to 96.10 as of 10:53 AM ET (15:53 GMT).

Midterm elections kicked off on Tuesday, with opinion polls showing the Democratic Party could win control of the House of Representatives, while the Republican Party is likely to hold onto the Senate.

Preliminary results are expected during evening hours and final results are in the early morning on Wednesday.

The number of job openings in September decreased, according to data released on Tuesday. Still, the chances of a Federal Reserve rate hike in December are at 90.8%. The Fed kicks off a two-day policy meeting on Wednesday, but no policy change is expected.

The dollar rose against the Japanese yen, with USD/JPY up 0.14% 113.34. The Canadian dollar was lower, with USD/CAD rising 0.14% to 1.3128.

Read more at : https://www.investing.com/news/forex-news/forex–us-dollar-steady-as-midterm-elections-kickoff-1676093

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