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Dems May Weaken Dollar
The dollar fell against most major currencies as markets watched the possibility that Democrats could take control of both houses of Congress, potentially curbing the Donald Trump administration’s spending plans. The dollar index slipped 0.2% to 101.7, while the yield on 10-year U.S. Treasury notes fell 4 basis points to 4.919%. By contrast, a U.S. military escalation against Iran could push oil prices higher and increase demand for the dollar as a safe haven, potentially reversing its course.
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