Dollar Expected To Trade Higher Following U.S. Presidential Election

According to Odaily, the dollar has experienced an increase following the U.S. presidential election, and it is anticipated to continue trading within a higher range. Analysts at ING, including Chris Turner, have indicated in a report that the market is preparing for a potential second term for President Trump. As a result, expectations for a Federal Reserve rate cut in December have diminished. Turner noted that the economic developments in overseas markets are "far from encouraging." He also mentioned that U.S. economic data, including initial jobless claims, is unlikely to significantly impact the market. Consequently, the dollar index is expected to maintain its position within the new range of 106-107. This outlook reflects the current market sentiment and the anticipated economic conditions in the near future.