eFXdata reports that TD Research discusses the potential market reaction to US Senate election run-off race in Georgia.

"Democrat control: Should the Democrats succeed in flipping the Georgia Senate seats, markets will need to weigh the risk around a potentially more ambitious policy agenda and additional fiscal stimulus. Taken in conjunction with the easing of notable tail risks, we think this would fuel the USD's downside momentum," TD notes.

"Republican control: Should the Senate remain in the hands of the GOP, we think the USD could find some limitation in terms of the weakness observed across the G10, particularly against EURUSD," TD adds.