The dollar tends to be higher from now until Nov. 5 during election years – BofA (DXY)

Dollar (DixieThe price usually tends to rise between now and US election day.

According to the BofA Securities Technical Advantage report, the average trend (nine out of 13 times) was up 2.5%, peaking ten days before Election Day, at 2.84%.

Strategist Paul Ciana wrote that from the previous 70 trading days until the US election day, the average trend for the dollar (DXY) was upward.

It was higher 77% of the time or 10 out of 13 times in the 35-40 trading days between now and mid-September and lower until Election Day.

The rate was also slightly higher for a Republican victory than for a Democrat, rising by about 2.6% versus 2.2%, respectively.

During non-US election years, the USD (DXY) tends to rise from 70 trading days to 40 trading days, then decline until likely election day (early November).