The dollar gained a little ground overnight as election uncertainty has set in. The Trump campaign has taken legal action and filed several lawsuits to demand more access to locations where ballots are being processed and counted. He has also called for a recount in Wisconsin, after Biden won there.
Trump’s lead in some pivotal states like Georgia and Pennsylvania is narrowing as more postal votes are counted. He has questioned the legality of votes, without providing evidence, saying “If you count the legal votes, I easily win. If you count the illegal votes, they can try to steal the election from us.”
The Federal Reserve made their latest decision on interest rates yesterday. As expected, they left rates on hold but committed to do more to help the economy. Fed Chair, Jerome Powell, said that the economy is recovering but is still below pre-pandemic levels.
Non-farm payrolls will be released today and are expected to show that the US economy added 600,000 jobs in October.
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