European Currency Recovered Slightly On The Day Of The US Election
The single European currency recovered slightly on the day of the US presidential election from the losses it has seen in recent days.
The euro exchange rate was up 0.40 percent to 1.1687 USD / EUR on Tuesday morning. The European Central Bank (ECB) set the reference rate at 1.1652 USD / EUR on Monday afternoon.
US presidential elections begin on Tuesday. Former President Donald Trump and his challenger Joe Biden are running for office.
The outcome is uncertain, although polls favor Biden. However, Trump surprised in the last election in 2016, when polls also gave him less chance than his opponent Hillary Clinton.
Therefore, the uncertainty in the financial markets is high. In addition, the new coronavirus pandemic has significantly increased the proportion of voting by mail, which means that the outcome of the election is likely to be known a little later than usual.