Dollar Declines Versus Major Counterparts as U.S. Goes to Polls
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The dollar fell against the majority of its 16 most-traded peers as voters headed to the polls to decide whether President Barack Obama or challenger Mitt Romney will guide the world’s biggest economy for the next four years.
The U.S. currency touched an eight-week high earlier against the euro before the world learns which candidate will help shape policy ranging from the Federal Reserve chairmanship to the so-called fiscal cliff of more than $600 billion in tax increases and spending cuts set to take effect in 2013. Australia’s dollar gained against all but one of its major counterparts after the central bank unexpectedly refrained from cutting interest rates today.