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2026-11-04 10:20:28
[Dollar Weakens to One-Month Low as US Midterm Election Results Show Key Democratic Advantages] 1. The dollar weakened against most major currencies on Wednesday, with the dollar index falling as much as 0.59% to 101.25, its lowest level since September 30. Investors focused on the results of the US midterm elections and prepared for a potential strong performance from the Democrats. 2. The first results were released, with Democratic Senator Jon Osoff winning re-election in Georgia, marking the first major election with a confirmed outcome. However, whether the Democrats can regain control of Congress from Trump's Republicans remains to be seen. The yield on the 10-year US Treasury note fell as much as 1.5% to 4.890%. 3. Carol Kong, a foreign exchange strategist at Commonwealth Bank of Australia, said that because the Democrats are currently favored, the market expects them to win both the House and Senate. If this prediction comes true, the dollar could weaken further, as a complete Democratic victory would limit government spending during Trump's term. She also noted that investors are concerned about the risk of an escalation in the Middle East due to the election results; if the Republicans lose control of both houses of Congress, Trump has stated he will resume bombing operations against Iran after the election, so the market is closely watching. If the conflict escalates, oil prices could surge, thus supporting the dollar. 4. Currently, US media outlets have made predictions about the winners of some House districts, with preliminary results favoring the Democrats, but voting is still underway in most parts of the country.
