FOREX-Dollar drops as less stimulus dents expectations of higher bond yields

By Reuters

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON) By Karen Brettell NEW YORK, Nov 5 (Reuters) – The U.S. dollar fell to two-week low against a basket of currencies and a seven-month low against the Japanese yen, as investors adjusted for the prospect that Republicans will maintain control of the U.S. senate, and stifle any plans for a large new stimulus package. Democrat Joe Biden edged closer to victory in the U.S. presidential race as election officials tallied votes in the handful of states that will determine the outcome and protesters took to the streets. “I think the market’s assuming that Biden wins the White House but that the Senate is not going to be in the Democrats' hands, so you don’t have as big of a stimulus,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.

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