{
  "id": 18065569,
  "title": "Dollar dips with US midterm results in focus",
  "url": "https://urgent.news/2026/11/04/dollar-dips-with-us-midterm-results-in-focus-18065569",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-04T03:03:11.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447348/dollar-dips-with-us-midterm-results-in-focus"
  },
  "original_language": "en",
  "account": "The US dollar experienced a dip on Wednesday, with market participants awaiting the results of the US midterm elections. The Democratic Party's potential victory in the elections has investors anticipating a shift in government spending during Donald Trump's term. Early results showed Democratic Senator Jon Ossoff retaining his seat in Georgia, but determining whether Democrats could seize control of Congress from the Republicans' rule was still uncertain. The euro rose by 0.2% to $1.1212, and the Japanese yen strengthened to 158.30 per US dollar in early trading. The dollar index, which assesses the greenback's performance against a basket of six currencies, declined by 0.2% to 101.7. The yield on the benchmark 10-year US Treasury note fell 4 basis points to 4.919%. Carol Kong, a currency strategist at Commonwealth Bank of Australia, stated that if Democrats were to win both the House and Senate, it could potentially weaken the US dollar as it would constrain government spending. As of 7:30 p.m. ET, US media had projected outcomes in several House races after polls closed in 10 states, while voting continued across the remaining regions. Market participants were also observing the risk of Middle East tensions escalating depending on the election results. Kong mentioned that if Republicans lost control of the House and Senate, President Trump might restart a bombing campaign in Iran post-election, potentially causing oil prices to soar sharply, which would bolster the US dollar. Oil prices remained relatively unchanged at $103.85 per barrel following a 1% decrease on Tuesday, marking the lowest level in nearly four weeks. Additionally, traders were monitoring the Bank of England's policy announcement for August 2023, where they anticipate an interest rate hike for the first time since that date. The Chinese offshore yuan stabilized at 6.6673 per dollar, after experiencing its largest one-day decline since May 15 due to a higher reserve requirement for financial institutions imposed by the People's Bank of China to curb the yuan's appreciation.",
  "summary": "SHANGHAI/SINGAPORE: The dollar fell against most major currencies on Wednesday ahead of results from US midterm elections, with investors bracing for a potentially strong Democratic showing. The first results in the US midterm elections began trickling in, with Democratic Senator Jon Ossoff winning reelection in Georgia in the first major race to be called. The question of whether Democrats can…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}