The US dollar rose on the second day after the midterm elections of the US Congress, where Democrats won the majority of the House of Representatives while the republicans retain the Senate, as the dollar rose against a basket of currencies from a two and a half weeks low of 95.68 to currently trade at 96.23.
After investors digested the election results, they are waiting now for the Federal Reserve's decision, which is widely expected to keep interest rates unchanged at a meeting next month. The Fed has raised interest rates three times this year so far.
On the other hand, the euro gave up its gains against the US dollar after dropping from the 1.15 level to retest an uptrend line on the 4-hour timeframe near to 1.1425 levels and with stabilizing higher than the 1.14 level it is expected to see the EURUSD again heading towards 1.15.
The NZD remains stable near a 3-month high following very positive employment data after the Reserve Bank of New Zealand kept interest rates unchanged at 1.75% yesterday night.
