The dollar index (DXY00) is down by -0.28% and modestly above Monday’s 2-week low. Long liquidation is weighing on the dollar ahead of the results of today’s US presidential election, which is too close to call. Also, today’s US Sep trade deficit was wider than expected, a negative factor for Q3 GDP and the dollar. The dollar recovered from its worst level after the US Oct ISM services index unexpectedly rose to a 2-1/4 year high.
The US Sep trade deficit was -$84.4 billion, wider than expectations of -$84.0 billion and the largest deficit in nearly 2-1/2 years, a negative factor for Q3 GDP.
