![]() ![]() Near-maturity Treasury yields are hovering near year-to-date highs. Federal Reserve opting for a fifth straight 75 basis points rate hike. A higher-than-expected reading would prompt traders to increase the likelihood of the U.S. The dollar's downside may be limited, considering that the U.S. A few analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending. midterm election results showed several Republican senators easily notching victory. Congress from the Democratic Party, DBS Group Research said in a note.Įarly U.S. ![]() Investors are betting that the midterm elections would hurt the dollar and bolster equities if the Republican Party wrested control of one or both houses of the U.S. The dollar's decline has been attributed by traders to unwinding of long positions and to the U.S. The dollar index had dropped from above 113 to below 110 in about a week. ![]() Meanwhile, the dollar was down about 1% against the Korean won earlier in the day, while declining 0.3% each versus the Thai baht and the Indonesian rupiah. The dollar index overnight extended its recent slide to slip to its lowest level since mid-September. The selloff in the USD/INR in the NDF market was fuelled by the dollar's decline versus its major peers and most emerging market currencies. The 1-month USD/INR NDF was at around 81.64, down from around 82.10 when OTC markets closed on Monday. Indian financial markets were shut on Tuesday. The rupee is tipped to open at around 81.40-81.50, compared with Monday's close of 81.92. currency on Wednesday, tracking the dollar's selloff in the offshore non-deliverable forward market. MUMBAI, Nov 9 (Reuters) - The Indian rupee is expected to climb against the U.S. ![]()
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