Dollar Rebounds as Obama wins election
Wednesday saw the dollar rise against numerous currencies after a big fall yesterday, and as expected with the results of the US presidential elections over and Barack Obama’s decisive win to secure the presidency, investors turned their attention back to the currency markets.
The dollar was up to $1.2840 against the euro in the early session, over a percent higher than yesterday with investors cautious as both the Bank of England and the Central European Bank expected to cut interest rates tomorrow.
The dollar also rose to $1.5800 against the sterling, nearly 1 percent higher than the previous session.