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The U.s. Dollar Weakened Ahead Of The Presidential Election

Jakarta (Benchmark News) – The weakened United States dollar closed trading on Tuesday (1/11/1999) following the political uncertainty in the United States as well as the concerns of prospective Republican Donald Trump might win the U.S. presidential election.

The U.S. Dollar index, which tracks the movement of the dollar against other major currencies, weakened 0.76% or closed 0.746 points to 97.699.

Investors still worry about the U.S. presidential election results November 8, coming after news on Friday that the FBI is investigating cases related to the use of personal email Democratic presidential candidate Hillary Clinton.

Clinton is seen as the candidate of the status quo, while there is greater uncertainty toward foreign policy, international trade transactions and domestic economy if Donald Trump won the presidential election.

Analysts said the victory of Trump can change the pace of the rise in interest rates the Federal Reserve which is expected to rise in December.

Meanwhile, investors wait for The Fed’s statement Wednesday about the upcoming new indication that rising interest rates may be conducted at a meeting of the central bank’s upcoming Dec.

“The uncertainty of the election certainly weighs on the dollar,” said Stephen Casey, a senior foreign exchange trader at Cambridge Global Payments, as quoted Reuters…(Red)

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