US Dollar slips below 101.50 as early midterm results favor Democrats

The US Dollar Index fell to around 101.30 during early Asian trading on Wednesday, pressured by early midterm election results indicating Democratic gains. Traders are awaiting further election outcomes for direction. Yields dropped across the curve, with the 2-year Treasury yield falling five basis points to 4.566% and the 10-year yield down six basis points to 4.90%. Early House results show Democrats leading with 124 seats to Republicans' 77 out of 435. Democrat Jon Ossoff won the Georgia Senate race, defeating Trump-backed Mike Collins. The victory is crucial for Democrats seeking to regain Senate control, adding to market uncertainty over the election's final outcome.