Dollar losses build in wake of midterm election results
The U.S. dollar came under pressure Wednesday, in the wake of midterm election results that saw Democrats take hold of the House and Republicans keep control of the Senate. The ICE Dollar Index fell 0.4% to 95.934, with the euro and pound notably strong. The dollar slid to $1.1481 against the euro from $1.1427 late Tuesday in New York. The pound [S: gdpbusd] rose to $1.3153 from $1.3099 late Tuesday. But even if the dollar looks weak presently, Charalambos Pissouros, senior market analyst at JFD Brokers, said those moves weren't likely to continue. "Yes, with a split Congress, Trump may find it difficult to proceed further with his political agenda, which may include more tax reforms, but at the same, his already-implemented policies are unlikely to be rolled back," said the analyst, in a note to clients. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.