Danske Research Team highlights that US midterm elections are held today, with tentative results due Wednesday and final outcomes potentially taking weeks. Prediction markets currently favor Democrats for the House and give them a strong chance in the Senate.

Investors sold tech after Oracle (ORCL) filed to raise $20 billion for artificial intelligence (AI) and bought the industrial and retail names that fill the Dow Jones Industrial Average.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US Dollar weakened alongside short-term Treasury yields as Fed Chair Kevin Warsh’s patient stance on inflation and concerns over slowing AI investment weighed on rate hike expectations.

DBS Group Research economist Philip Wee notes that the Dollar Index slipped back below 102 following the October 28 FOMC meeting, with US GDP and PCE data failing to revive USD momentum.

HSBC’s FX Viewpoint, dated 2 November 2026, reviews the latest FOMC decision and its implications for the Dollar. The Federal Reserve kept rates at 3.75-4.00% but signalled that a December hike remains possible as US economic activity is described as strong and inflation elevated. HSBC maintains its strong USD view into 2027, while warning that the path may be volatile.

The US Dollar (USD) has retraced most of its previous losses on Monday, but remains on the defensive with investors wary of holding large US Dollar longs ahead of the US midterm elections, while growing concerns about an AI bubble pose an additional threat.

MUFG’s Lee Hardman highlights US mid-term election risks, with a potential Republican loss of Congress seen as dampening Dollar strength. A less hawkish Fed, lower US Treasury yields and pressure on US AI-related equities add downside risks for the Dollar.

Dow Jones futures gain 0.25% to trade around 52,050 during the European hours on Monday. Meanwhile, S&P 500 futures advance 0.37% to trade around 7,640 and Nasdaq 100 futures rise over 70% to near 28,750.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on Friday's modest bounce from the 101.60 region and attracts fresh sellers at the start of a new week.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after posting modest gains in the previous day and trading near 102.00 during Asian hours on Monday.

The US Dollar Index (DXY) loses ground for a third straight day on Friday as a sell-off in technology stocks drives investors toward government bonds, pushing Treasury yields lower and weighing on the Greenback. Next week’s US midterm elections add to the cautious mood.

Commerzbank’s Michael Pfister highlights that robust US Gross Domestic Product (GDP) growth of 3.4% annualised in Q3 reinforces the case for a stronger Dollar versus other G10 currencies.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, extends the post-FOMC retracement slide for the third straight day, dropping to the lower end of its weekly range on Friday.

ING’s Francesco Pesole notes that recent pressure on US tech stocks has supported Treasuries and modestly weighed on the Dollar, though underlying demand remains intact with hawkish US data and a still-alert Federal Reserve.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the third successive day and trading near 101.70 during Asian hours on Friday.

OCBC’s Sim Moh Siong and Christopher Wong note that the Federal Reserve’s pause keeps the Dollar supported but limits sustained upside. They expect a final 25bp hike in December, while underlying inflation and global policy moves, including an ECB hold, shape the outlook.

Brown Brothers Harriman’s Elias Haddad notes the Dollar has partly recovered after the FOMC kept the Fed funds range at 3.75–4.00% in a 10–2 vote, with dissenters favoring a hike. Warsh’s press conference signaled little urgency to tighten, yet December odds remain high. Upcoming US PCE and GDP data will gauge the Fed’s scope to stay patient and sustain USD-supportive rate differentials.

MUFG’s Lee Hardman notes the US Dollar is trading modestly weaker after the FOMC left rates unchanged but signalled more caution on further hikes. Despite two hawkish dissenters, the overall tone and recognition of tighter financial conditions support MUFG’s view of only one more Fed hike.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after posting modest losses the previous day and trading near 102.30 during European hours on Thursday.

US stock futures showed mixed results during European trading hours on Thursday. Dow Jones futures gained 0.37% to trade near 52,890, while S&P 500 futures fell 0.38% to around 7,750 and Nasdaq 100 futures lost 1.2% to near 29,620.

DBS Group Research economist Philip Wee notes that the Federal Reserve’s hawkish pause did not sustain the Dollar’s rally, even as US Treasury yields rose. He highlights Kevin Warsh’s cautious tone on future hikes and the importance of upcoming PCE inflation and 3Q26 GDP data.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 102.25 in the early European trading hours on Thursday.

Commerzbank’s Michael Pfister highlights that the Federal Reserve left rates unchanged, with two dissenting votes for a hike. Strong US growth and labour data support a high probability of December tightening, yet inflation expectations are seen improving.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on a modest Asian session uptick on Thursday, though it holds above the 102.00 round figure.

The Fed held at 3.75%-4.00% on Wednesday with two votes for a hike, which leaves December as the last meeting this year for the increase most officials projected.

Brown Brothers Harriman’s Elias Haddad notes the FOMC is widely expected to keep the Fed funds target range unchanged at 3.75-4.00%, with futures pricing only a small chance of a move. However, a likely 9-3 vote split and Chair Kevin Warsh’s inflation assessment should keep a December hike in play, leaving robust US data and price pressures supportive for the Dollar.

OCBC strategists Sim Moh Siong and Christopher Wong note the US Dollar (USD) stayed broadly steady as AI-related risk appetite returned and Oil prices eased. They expect the Federal Reserve (Fed) to hold rates in October, with focus shifting to December. Hawkish Fed risks, US midterms, AI policy and Iran conflict are seen keeping the Dollar supported but with more two-way volatility.

MUFG’s Derek Halpenny notes the US Dollar (USD) is under upward pressure ahead of the FOMC, with NZD/USD hit hard after a surprise Reserve Bank of New Zealand (RBNZ) hold. He expects the FOMC to keep rates on hold but maintain a hawkish tone, with December largely priced.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, eases from a nearly two-week high, touched earlier this Wednesday, as bulls turn cautious ahead of the crucial FOMC decision.

Dow Jones futures decline by 0.22% to trade near 52,460 during European hours on Wednesday. S&P 500 futures gain 0.08% to trade around 7,760, while Nasdaq 100 futures rise 0.45% to trade near 29,950.