Dollar Flatlines Ahead Of US Vote; Aussie Edges Up
The greenback was little changed, with investors awaiting the outcome of the US presidential election ahead of taking big positions. Aussie edges higher after RBA stands pat.
Bloomberg Dollar Spot Index little changed at 1,258.58, while 10Y US Treasury yield rises 1 basis point to 4.29%. Donald Trump’s political prospects are typically correlated with advances and declines in the dollar.
“The unwinding of the Trump trade can only go so far given how close the race is,” Maybank analyst Saktiandi Supaat writes in a note. “The DXY index has found support around 103.60 while topside is seen at around 104.60. We see consolidation within this range until a winner is called”.
USD/JPY up 0.2% to 152.49 after Democratic Party for the People leader Yuichiro Tamaki said Bank of Japan monetary policy should stay on hold a while longer.
AUD/USD up 0.2% to 0.6598. The Reserve Bank of Australia kept its key interest rate unchanged, as expected, at 4.35%.
Source : Bloomberg