Dollar to weaken more quickly if Biden wins elections and Democrats seize control of both houses - UBS

Analysts at UBS expect the U.S. dollar to weaken at a faster rate if Joe Biden wins Presidential elections, and Democrats seize control of the House and the Senate. 

The bank expects the greenback to remain on the offer if Republicans win. However, the dollar's decline would be slow. 

The dollar index, which gauges the greenback's value against majors, is currently seen at 92.812, having reached a 29-month low of 91.75 on Tuesday. The index is down nearly 10% from the high of 102.99 reached in March.