Dollar drops as Democrats sweep US midterm elections

emaratalyoum.com (Arabic) —

The dollar fell on Wednesday, heading for its largest daily percentage drop in three weeks after Democrats won a sweeping victory in the US midterm congressional elections, clearing market uncertainty. US stocks rose in early trading while crude oil prices declined as investors weighed potential regulatory changes and awaited Washington's next move in the US-Israeli war on Iran. The dollar index fell 0.32 percent to 101.51. One analyst cited a risk-on sentiment and relief over avoiding disputed results, though AI-related concerns persist due to Democratic positions. Fed rate hike expectations for December rose to 82.6 percent, up from 77.4 percent previously.


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