The US dollar extends its losses as the congressional elections await
The dollar fell against most of the major currencies during Monday's trading, amid a divergence in risk appetite, and increased its losses in light of the closely awaited congressional elections.
Tomorrow, Tuesday, the midterm elections for the US Congress are expected to begin, and expectations indicate that the Republican Party will win a majority of seats to remove the Democrats from their current majority.
This, and the important key inflation data will be released in America later this week, which investors are waiting for to predict the Fed's next steps.
The US Department of Labor announced last week that the world's largest economy added 261 thousand jobs in October, while expectations indicated an addition of 220 thousand jobs.
The unemployment rate in America rose to 3.7% last month from 3.5% in September, while analysts expected the index to rise to 3.6%.
Last Wednesday, the Federal Reserve also announced a 75 basis point interest rate hike, in line with expectations.
In terms of trading, the dollar index fell by 18:25 GMT by 0.6% to 110.2 points, and recorded the highest level at 111.2 points and the lowest level at 110.1 points.