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  • US dollar remains bid and reaches one-month highs at 0.9200
  • The dollar rallies for the sixth consecutive day amid US elections’ uncertainty.

The dollar has extended its uptrend against the Swiss Franc, buoyed by broad-based USD strength on Monday, to appreciate nearly 0.5% so far today and hit levels past 0.9200 for the first time in one month

US elections’ uncertainty boosts the dollar

The greenback is going through an impressive six-day rally against the Swissie with the investors cutting down their positions, wary of a contested election in the US. The cautious market mood ahead of the election day has reflected on a generalized US dollar strength, which has pushed the US dollar index to one-month highs.

The market anticipates a victory of Joe Biden, that might undermine the US dollar’s strength, assuming that the Democrats will, approve a large stimulus package. Nevertheless, investors are sceptical about the polls, after the failure on predicting Trump’s victory four years ago, which is sinking demand for risky assets.

Technical levels to watch