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How to trade the dollar on election results


Recent economic uncertainty regarding a US recovery is causing an increase in bearish sentiment on the US dollar. The US dollar index is approaching a key support level of 80. The emergence of a major event risk, the US mid-term elections in November 2010, is now on the horizon for the dollar. Elections always have had an impact on currencies. If the elections result in a shift in control of the House of Representatives, a policy shift likely will occur away from fiscal stimulus and increase prospects of deficit spending reductions. There are several trading scenarios that come into play. Although there are many different ways to play a US dollar move, a basic approach is to trade the US dollar index.

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									How to trade the dollar on election results
Abe Cofnas
Futures; Sep 2010; 39, 9; Docstoc
pg. 28

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