06.11.201812:07 Forex Analysis & Reviews: The dollar will continue to grow, or why there is no reason to decline

The dollar held in tight ranges compared to its main competitors on Tuesday, investors are in no hurry to act in anticipation of the election results, the first serious test of Trump's policy of tax breaks and trade protectionism.

It is expected that the election to the US Congress will help the Democratic Party gain control of the House of Representatives, and the Republicans are likely to retain the Senate. Dollar bulls will be happy to receive a Republican-controlled Congress, because it will support Trump's policies. So if Republicans gain control, the dollar will rise. On the other hand, if Congress is split, Democrats will get the House of Representatives, and Republican Senate, the prospect of a legislative stalemate will make Trump's policy, including tax cuts, difficult and will negatively influence the dollar's dynamics in the short term.

While the US currency is holding very confidently, the dollar index versus the main currency basket at the level of 96.33 points, having reached a 16-month high of 97.20 points last week. Euro slightly, but fell to 1.1404 dollars. Against the yen, the dollar climbed 0.1 percent, to 113.27 yen, also close to a maximum in four weeks.