Clouds gather over battered dollar in aftermath of US election

The U.S. currency is off about 10% from its highs of the year and stands near more than a two-year low

NEW YORK: An increasingly bearish picture is unfolding for the U.S. dollar, which has suffered its worst week since March on signs that Federal Reserve money printing rather than government spending may be deployed to bolster the economy in the aftermath of Tuesday's elections.

A potentially divided U.S. government with Republicans in control of the Senate may mean a smaller fiscal stimulus package from lawmakers, increasing pressure on the U.S. central bank to ramp up its bond-buying and other economically supportive policies that have weighed on the dollar this year.