U.S. Dollar Climbs As Mid-term Elections In Focus
(RTTNews) - The U.S. dollar advanced against its major counterparts on Tuesday, as investors awaited the outcome of the mid-term elections in the country.
The mid-term elections to the House of Representatives and the Senate are due today.
The Republican party is expected to get a majority in both Houses, paving the way for a political deadlock.
The benchmark yield on the 10-year treasury note rose to 4.224 percent. Yields move inversely to bond prices.
U.S. consumer inflation data, due on Thursday, could shed more clues on the Fed's monetary policy tightening stance.
The greenback edged up to 0.9923 against the franc and 0.9987 against the euro, from its prior lows of 0.9875 and 1.0031, respectively. The greenback is likely to challenge resistance around 1.02 against the franc and 0.96 against the euro.
The greenback reversed from its early lows of 1.1537 against the pound and 146.31 against the yen, rising to 1.1460 and 146.94, respectively. If the greenback rises further, 1.11 and 151.00 are likely seen as its next resistance levels against the pound and the yen, respectively.
The greenback rebounded to 0.5899 against the kiwi, from a 1-1/2-month low of 0.5952 seen at 7:30 pm ET. On the upside, 0.56 is possibly seen as the next resistance level.
The greenback climbed to 0.6444 against the aussie and 1.3527 against the loonie, following its previous lows of 0.6491 and 1.3475, respectively. The greenback is seen finding resistance around 0.60 against the aussie and 1.37 against the loonie.
Looking ahead, at 5:00 am ET, Eurostat publishes euro area retail sales figures for September.
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