On Wednesday, Democrats won the U.S. Senate (Georgia) by-election in Georgia. This victory of the Democratic party signifies that the party is getting closer to having greater control in Congress and at the same time putting President Joe Biden’s policy is easier to succeed.
Raphael Warnock, a pastor from one of the leading churches of Martin Luther King Jr., has won the Republican candidate, Kelly Loeffler. This puts him as the first black senator in the southern region.
The latest market is awaiting a decision featuring Jon Ossoff from the Democratic party and his Republican rival David Perdue which is expected to be announced as early as Thursday morning.
If the Democratic party wins then it marks as an act of rejection against the leadership of Donald Trump. However, if Republicans hold the second seat, they will effectively use the veto power of Biden as well as his initiatives included in the stimulus package and policies he wants to implement.
The US dollar depreciated to a 3-year low on Wednesday and recently declined 0.13% against major currencies as of 9.20 p.m.
