Tuesday, 6 November 2018 16:11 WIB | CURRENCIES |DOLLARDolar AS
The dollar dipped on Tuesday as investors took a cautious approach to the U.S. midterm elections and any fallout from the vote for the world's largest economy.
The dollar has reigned supreme this year, benefiting from the robust U.S. economy and rising interest rates.
Investors on Tuesday were focused on whether the congressional elections, the results of which are expected from 23:00 GMT, could disrupt the stellar performance of the world™s most liquid currency.
The elections are expected to help the Democratic Party win control of the U.S. House of Representatives, with Republicans likely to retain their majority in the Senate.
Most analysts believe that scenario will see the dollar dip on the view that chances for any further U.S. fiscal stimulus are curtailed.
The dollar index, a gauge of its value versus six major peers traded down 0.1 percent at 96.246. It had hit a 16-month high of 97.20 last week.
The euro was slightly higher at $1.1417, about one percent above this year's trough of $1.1301 touched on Aug. 15.
Against the yen the dollar changed hands 0.1 percent higher at 113.35 yen, close to a four-week high of 113.385 yen reached last week.
The Aussie was flat at $0.7206, but was around 2.7 percent above a more than 2-1/2-year low of $0.7018 touched on Oct. 26.
The pound rose 0.3 percent to $1.3085, a two-week high, following media reports suggesting the EU and Britain may be inching closer to an orderly Brexit.