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Anzo Lim

Both US Presidential Candidates Intend to Weaken the Dollar  

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A potential 2020 election showdown between President Donald Trump and Democratic candidate Elizabeth Warren would undoubtedly be viewed as a clash of ideological extremes, but when it comes to economic policy, both think the dollar is too strong, suggesting measures to weaken the dollar are likely to be taken regardless of the winner of the election.

 

The trade-weighted U.S. Dollar is still near the its peak in 2019 while the ICE U.S. Dollar Index measuring US dollar against a basket of six major US trade partners has hit the highest in two years, up about 3% from the beginning of 2019.

 

Stronger US dollar is likely to disadvantage U.S. companies overseas. And given the attitude of both candidates towards the USD, investors should pay attention to the possibility of weakening dollar after the election no matter who wins the campaign in 2020.

 

USD index daily pivot points: 98.43---98.45

 

S1: 98.32               R1: 98.56

 

S1: 98.22               R2: 98.66

 

Source: WikiFX 

 

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