The news of the President Obama's victory was followed by a news that dollar has fallen. However, the analysts said that there is nothing much to worry, as it is being considered that the dollar could soon make its come back.
It would resume its uptrend. According to sources, it has been found that dollar was down by 0.3%. Position of dollar was found to be low in comparison to other currencies. "There's a bit of relief that there was a clear result in the U. S. presidential election, it's removed uncertainty which is benefiting pro-cyclical currencies in particular", said Ian Stannard, who is heading the currency strategy department at Morgan Stanley.
Experts have their own opinion about the performance of the US dollar. John Hardy, who is currency strategist at Saxo Bank, London, said that it is for the betterment of the US dollar that the state of the fiscal cliff remained a bit depressing.
On the other hand, it was found that the euro was able to see growth after hiatus of two months. It was found that the euro was up by 0.4% and amounted at $1.2856. The rise in the value of euro must have comforted the EU members, which have witnessing financial problems.
