The Romanian leu continues to drag the US dollar

The Romanian leu continues to drag the US dollar following the failed attempt of bullish investors to regain the momentum. The price should go down to its support level, hitting ranges last seen in September 2018, erasing almost two years-rally by bulls. It’s no new news that the US dollar is currently weakening against most assets because it’s pressured by a ton of factors. This includes the political uncertainties ahead of the much-awaited presidential elections in November. In the past, the United States President Donald Trump suggested that the elections could be delayed until people can safely and securely vote. However, just this week, Trump’s advisers clarified that the elections will continue on November 3 as initially planned. As for the Romanian leu, its primary strength comes from its correlation to other currencies in the region. Most Central European currencies are rallying and the positive sentiment in the bloc is expected to last longer.