The Greenback remained largely on the defensive on Tuesday, retreating to three-week lows amidst heightened expectation ahead of the outcome of the US election and the upcoming Fed meeting.

The unwinding of a big chunk of the “Trump trade” hurt the US Dollar at the beginning of the week amidst marginal developments in US yields and rising caution ahead of Tuesday’s US election and Thursday’s FOMC gathering.

Major volatility is expected on crypto markets this week with all eyes on the US presidential election and the Federal Reserve’s policy meeting.