Dollar Falls After Obama Win

After President Obama’s reelection win, the U.S. dollar dropped against all but two of is 16 major peers, amidst speculation that the U.S. will maintain the Federal Reserve’s current monetary stimulus policies. On Wednesday, the dollar fell 0.3 percent to $1.2848 per euro after falling 0.1 percent yesterday. Mitt Romney had disagreed with the Federal Reserve’s policies and had announced plans to replace Chairman Ben Bernanke in 2014. One expert said, “The idea of unchanged Fed policy is slightly supportive of equities, slightly weaker dollar, and I think that is how people are playing it today.”