I've been search for stories that would help to explain the dollar softness today and found this one from a few hours ago.
China's Xinhau reported that:
China's 'systematically important banks' will step up lending to the field of manufacturing and infrastructure in the fourth quarter of the year in an effort to boost economy.
The report said that the NDRC, China's top economic planners, have recently convened several meetings requiring stepped-up lending in the fourth-quarter.
This report was out about four hours ago and didn't get much attention but I think it's at least some of the reason for the slump in the dollar.
The election makes for a difficult trade but the changes in China in the year ahead (especially covid zero) will have a much larger impact on the global economy than anything in Congress.
