ING Bank: Dollar Faces Short-Term Downside Risk if Democrats Win Both Houses of Congress

ING Bank believes that if the Democrats gain control of both the House of Representatives and the Senate in the U.S. midterm elections, the dollar may weaken in the short term. Strategist Francesco Pesole stated, "If the Democrats sweep both houses, the dollar could face some short-term pressure." The market has fully priced in the expectation of the Republicans losing control of the House, but only partially accounted for the scenario of a Democratic sweep of both houses.

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