US election adding to long-term uncertainty for dollar 

The currency appreciated in the 1990s, fell during the first decade of this century before appreciating over the past decade. It is now at elevated levels

The outcome of the US election could have an impact on the dollar.

Markets are very pre-occupied with trends in currencies even though it is very difficult to forecast what is going to happen with exchange rates. Currency markets certainly are the most tricky to forecast — stock markets tend to rise over time, while central banks are now providing enhanced forward guidance on the likely path of interest rates that extends out over a number of years.

On the other hand, numerous factors seem to impact currency markets, factors that can vary in importance over time.