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<FX>JPM: EUR/ USD May Hit 1:1, if Republicans Control Both Houses of Congress
Recommend 8 Positive 6 Negative 8 |
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JP Morgan's FX analyst Meera Chandan released a report, stating that, if the Republicans control both the White House and the US House and Senate, EUR/ USD could fall to 1:1. The outcome of the US election has amplified the "American exceptionalism" in many ways, the report said. Even though tariff measures have not yet been officially announced, the emotional impact on other countries is likely to be evident, which will ultimately shore up the US greenback. If it is confirmed that the Republicans will ultimately control the White House and both houses of Congress, EUR/ USD should ebb below 1.05 and trend towards 1:1. According to an estimate by the Associated Press, the Republicans, who have taken control of the White House and the Senate, have temporarily taken 214 seats in the House of Representatives, more than the 205 seats of the Democratic Party. There are still 16 seats for which the vote counting has been unfinished. AAStocks Financial News |
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