The Democratic blue sweep in the US midterm elections weighed on the US Dollar and boosted the Australian Dollar, which has bounced from a 12-day low of 0.6954 and reclaimed 0.7000, gaining over 0.59% at the time of writing.
AUD/USD rebounds from a 12-day low as falling US yields undermine the Greenback
Market mood is positive, as evidenced by US equities, which closed Wednesday’s session in the green. The US Dollar Index (DXY), which tracks the performance of the buck against a basket of six currencies, dropped 0.36% to 101.53 amid fears that bills proposed by Trump would be rejected by a US Congress dominated by the Democrats.
On a positive note, the leaders of the Democratic Party in the House of Representatives and the Senate pledged to end the Iran war, which, according to the US Vice President JD Vance, was the main reason for the Republicans’ loss. The comments weighed on Oil…
