# FX Weekly - US dollar slips on election surprise | ABN AMRO

> The US dollar weakened after mid-term election results showed a larger-than-expected Democratic win, pushing EUR/USD above 1.1250. The Riksbank raised its policy rate by 25 basis points, and the Swedish krona has recovered about 3% since September after a weak start to 2026.

- Date: 2026-11-04 · published 2026-11-04T15:08:32.411Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/79905-fx-weekly-us-dollar-slips-on-election-surprise-abn-amro
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A softer dollar tends to support US commodity prices in dollar terms and lifts foreign buyers' purchasing power, but expectations of political deadlock limit the scope for a sustained move.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-06-27 | [SK Won Rises as Dollar Slips](https://feedsoft.ai/events/24447-sk-won-rises-as-dollar-slips.md) | -0.3% | +0.3% |
| DXY | 2024-06-28 | [US dollar slightly weaker on diminishing inflation](https://feedsoft.ai/events/29962-us-dollar-slightly-weaker-on-diminishing-inflation.md) | -0.7% | -0.5% |
| DXY | 2023-11-24 | [Dollar slips on bets US rates have peaked](https://feedsoft.ai/events/33363-dollar-slips-on-bets-us-rates-have-peaked.md) | -0.4% | -1.1% |
| DXY | 2020-11-03 | [Latam FX, stocks rally as dollar dogged by election jitters](https://feedsoft.ai/events/50344-latam-fx-stocks-rally-as-dollar-dogged-by-election-jitters.md) | -1.8% | -3.6% |
| DXY | 2025-02-24 | [South Korean Won Rises on Weak US Dollar](https://feedsoft.ai/events/26307-south-korean-won-rises-on-weak-us-dollar.md) | +0.9% | -0.7% |
| EURUSD | 2024-10-31 | [Euro Outperforms Dollar and Pound After Inflation and GDP Surprises](https://feedsoft.ai/events/28072-euro-outperforms-dollar-and-pound-after-inflation-and-gdp-surprises.md) | -1.2% | -2.9% |
| EURUSD | 2023-03-31 | [Dollar up vs. euro but remains on track for weekly loss after inflation data](https://feedsoft.ai/events/37072-dollar-up-vs-euro-but-remains-on-track-for-weekly-loss-after-inflation-data.md) | +0.3% | +1.1% |
| EURUSD | 2021-10-28 | [Euro Mildly Higher after ECB, Dollar Dips Slightly on GDP Miss - ActionForex](https://feedsoft.ai/events/44759-euro-mildly-higher-after-ecb-dollar-dips-slightly-on-gdp-miss-actionforex.md) | -0.1% | -2.6% |

## Sources

- abnamro.com: https://www.abnamro.com/research/en/our-research/fx-weekly-us-dollar-slips-on-election-surprise

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.