{{The US dollar tumbled against the euro in Asian forex trade after President Barack Obama won a second term following a nail-biter White House race.}}<\/p>\n
The euro bought $1.2869 in Tokyo, up from $1.2788 earlier Wednesday and $1.2814 in New York late Tuesday. The greenback was also weaker against the yen, at 80.03 yen compared with 80.34 yen in New York.<\/p>\n
An Obama victory was seen among traders as a dollar-selling cue as it may suggest further easing measures by the US Federal Reserve, after the central bank ushered in a $40 billion monthly bond-buying programme to spur the world\u2019s biggest economy.<\/p>\n
\u201cInvestors have been factoring in his win and adjusting their positions likewise,\u201d said Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo.<\/p>\n
\u201cThe issue now is the uncertainty surrounding the US fiscal cliff, and how a divided Congress will deal with the issue,\u201d he added.<\/p>\n
The so-called fiscal cliff, which will see the government sharply cut spending and hike taxes, is due to take effect on January 1 unless politicians find a compromise on reducing budget deficits.<\/p>\n
However, Takumi Nomura, a senior dealer at Bank of Tokyo Mitsubishi UFJ, said the dollar may get some support, with an incumbent Obama seen as better able to address the issue more quickly than a newly-elected leader.<\/p>\n","protected":false},"excerpt":{"rendered":"
{{The US dollar tumbled against the euro in Asian forex trade after President Barack Obama won a second term following a nail-biter White House race.}} The euro bought $1.2869 in Tokyo, up from $1.2788 earlier Wednesday and $1.2814 in New York late Tuesday. The greenback was also weaker against the yen, at 80.03 yen compared […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[101],"byline":[170],"hashtag":[],"class_list":["post-3984","post","type-post","status-publish","format-standard","hentry","category-news","tag-internationl","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/3984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=3984"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/3984\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=3984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=3984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=3984"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=3984"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=3984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}