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Dollar Weakens Amid Election Risks and Fed Rate Decision

November 4, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Hani Abuagla Senior Market Analyst at XTB MENA.

The dollar retreated as markets brace for the upcoming U.S. election and a pivotal Federal Reserve policy meeting. With the outcome still uncertain, investors initially positioned themselves for a potential re-election of Donald Trump last week. However, as new projections indicate a tighter race, with Vice President Kamala Harris emerging as a potential favorite, market participants could continue to adjust their positions. This shift is weighing on the greenback following a rally tied to the expected Trump's fiscal and trade policies.

The Fed's monetary policy decision, scheduled for Thursday, adds another layer of uncertainty. Following an aggressive cut of 50 basis points, a more cautious reduction of 25-basis points is now expected. In response to these uncertainties, short-term note yields have inched up, while longer-dated yields have softened as the markets adopt a "wait and see" approach.

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

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