Election pressure on the dollar! A contrary forecast from HSBC

HSBC said the dollar’s post-US midterm selloff may not mark a lasting downturn, maintaining a contrarian view after Democrats’ stronger-than-expected midterm results triggered pressure on the US currency. The bank’s call came as the dollar faced selling pressure following the elections, with investors weighing whether the political outcome would alter the greenback’s trajectory. HSBC’s stance signals it expects the recent weakness to prove temporary rather than the start of a sustained decline. The dollar’s reaction to the midterms is now a key focus for currency markets, with attention on whether the post-election move extends or fades.