USD: Uptrend is intact - Westpac

Richard Franulovich, Head of FX Strategy at Westpac, suggests that the USD uptrend is intact but next few weeks have some consequential event risk that could tilt risks the other way, notably midterms (6 Nov).

Key Quotes

“History, polling, fundraising and Trump’s low approval ratings suggest Democrats will retake House but fall short in the Senate. Markets should take an "as expected" outcome in stride but tail risks of Democrat sweep (USD negative) or Republicans holding both chambers can’t be ruled out.”