However, Mr Wu said analysis of the movement of the trade-weighted USD in the 30, 60 and 90 days after each of the last 10 elections suggests no systematic advantage for the USD under a Republican president.
Mr Wu said a"better way" to approach the matter was to look at current USD-negative drivers, which he identified as market-perceived pessimism around the pace of US economic recovery. Mr Wu noted that the Democrat majority in the House of Representatives is not subject to change this year, while polls are calling for a Democrat majority in the Senate after the upcoming election.
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