Breaking News: EUR/USD challenges highs as Democrats clinch the House
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Democrats are emerging as winners in the House as a dramatic night in US politics unfolds. More and more networks are calling the race for Democrats. This includes Fox, NBC, CNN, and FiveThirtyEight.
Democrats were favorites to win the lower chamber of the US Congress, but Republicans seemed to have significant chances during an extended period as votes were counted.
The US Dollar is retreating across the board, and the EUR/USD is advancing towards the highs once again. The high so far is 1.1473.
The GBP/USD is also moving higher, trading around 1.3140. The USD/JPY is on the back foot around 113.25. The AUD/USD is around 0.7260, the USD/CAD at 1.3110.
Here is how the drama unfolded on the EUR/USD 15-minute chart. Click to see a live graph:
Live Coverage: Follow all the updates for the elections and currency movements
Fox News was the first to call the House for Democrats. NBC followed. Other networks are moving more slowly. Earlier, networks called the Senate for Republicans after clear victories for incumbents and challenges of the majority party in the upper house of Congress.
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