US dollar falls against most major currencies

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New York– The US dollar slid against most other major currencies as investors were concerned over the volatility for global markets that brought about by the US midterm elections scheduled on Tuesday.

In late New York trading on Monday, the euro rose to $1.1417 from $1.1392 in the previous session, and the British pound was up to $1.3048 from $1.2964 in the previous session, Xinhua news agency reported.

The Australian dollar was up to $0.7216 from $0.7192.

The U.S. dollar bought 113.22 Japanese yen, lower than 113.27 Japanese yen of the previous session. The US dollar decreased to 1.0039 Swiss franc from 1.0043 Swiss franc, and it decreased to 1.3108 Canadian dollars from 1.3112 Canadian dollars.

Yet such uncertainty was softened by Friday’s upbeat jobs report that showed employment rose drastically in October, with average earnings up 3.1 per cent year-on-year and unemployment rate unchanged.

Such signs of a robust domestic economy boosted US Treasury yields on ten-year maturities up to 3.191 per cent on Monday.

US citizens will cast their vote on Tuesday. So far, Democrats have garnered a high chance of regaining control of the US House of Representatives, while Republicans may keep their Senate majority. (IANS)

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