Most Asian currencies strengthened on Wednesday as the dollar retreated amid uncertainty over U.S. midterm results, while the yuan stayed weaker after Beijing moved to curb its recent rally. The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.85%, its fifth increase this year and the highest level in 18 years, in a surprisingly divided 6-3 vote that fuelled expectations the tightening cycle may be nearing its end. The U.S. dollar index fell 0.5% to 101.34, the South Korean won gained 0.5% to 1,337.98 per dollar, and the yen strengthened 0.7% to 157.64 per dollar. Democrat Jon Ossoff won re-election in Georgia and Roy Cooper flipped a Republican-held Senate seat in North Carolina, while control of Congress remained uncertain, and the 10-year Treasury yield fell 4 basis points to 4.919%. Brent crude traded around $103.85 a barrel after falling about 1% to a near four-week low, as markets weighed diplomatic efforts to end the conflicts in Iran and Ukraine against the risk that further attacks disrupt supplies.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
US dollarexchange ratesRBAmidterm electionsoil prices
Open a keyword to see other news on the same topic.
Related tickers and likely impact
DXY
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 101.86 |
| Change that session | +0.06% |
AUD/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 0.69649 |
| Change that session | -0.48% |
EUR/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 1.11919 |
| Change that session | +0.04% |
GBP/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 1.34151 |
| Change that session | +0.06% |
NZD/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 0.55830 |
| Change that session | -0.58% |
USD/CHF
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 0.82091 |
| Change that session | +0.27% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- US Dollar Pressure Persists as Aussie Dollar Nears High
The US dollar remained under pressure on Wednesday after hitting a three-week low in the previous session, as Treasury yields dipped and crude oil prices declined. The Australian dollar traded near a three-week high against the greenback. Reserve Bank of Australia Deputy Governor Andrew Hauser, speaking at a Citi conference, said the inflation outlook looked “materially worse” and that he was unsure whether the central bank would need to raise its policy rate again next month.
- Dollar Also Sinks As Democrats Rack Up Wins
The U.S. Dollar Index fell 0.44% to 101.42 as the blue wave expanded.
- US Dollar Mixed Early Tuesday Ahead, Eyes on Midterm Elections
- Asian currencies mixed as yuan slides after PBOC move, won rebounds
Asian currencies were mixed, with the yuan weakening after the People's Bank of China raised its foreign-exchange reserve requirement ratio by 2 percentage points to 6% from 4%, effective November 15, a move expected to withdraw about $24 billion from the financial system. The won rebounded, with USD/KRW down 0.5% to 1,339.30, while the dollar index held near 101.80, close to a one-month low. Brent crude fell more than 7% on Monday after Tehran said contacts with Washington aimed at ending the eight-month conflict were continuing, as investors awaited the US midterm elections and the October jobs report. South Korea's October exports rose 93.7% year on year, led by a 259.4% jump in semiconductor shipments, while inflation eased to 2.8% from 2.9%. The yuan is still up more than 5% against the dollar this year.
- US Dollar Edges Up Against The Loonie as Bond Yields And Oil Prices Fall
- Dollar Sinks to One-Month Low as Oil Slump Eases Haven Demand
The dollar fell to a one-month low against a basket of currencies as oil prices dropped sharply. The headline indicates that this move came alongside easing demand for the dollar as a haven.
Related markets
Latest news
- Apple Says It Will Keep Paying More for Memory Chips After December. That's Good News for Micron Stock.
Micron shares fell about 6% on the same day Kioxia sank about 16% in Tokyo, after Kioxia guided for only about 1% sequential revenue growth in the December quarter. After its earnings call, Apple said it expects memory prices to keep rising beyond the December quarter, calling current pricing "unprecedented." Most of Micron's sales are DRAM, which hit a record $39.8 billion in its fiscal fourth quarter, up 343% year over year, though its price increases are slowing. The stock trades near $860, over 30% below its 52-week high of $1,255, and the author argues Apple's warning is good news for Micron, whose valuation may already assume memory profits fall sharply.
- [UPDATE] CNN projects Democrats will take the House from Republicans, President Trump denies responsibility
Democrat Chris Pappas won the New Hampshire Senate seat, defeating Republican John Sununu. AP projects Democrat Mark Warner will win re-election in Virginia over Bert Mizusawa, while Debbie Wasserman Schultz won the Florida 20th district House seat. CNN and AP project Jon Ossoff will be re-elected in Georgia over Mike Collins, but a runoff on December 1 would follow if no candidate wins a majority. Democrats also won Senate races in New Jersey, Illinois, Delaware, Massachusetts and Rhode Island. Early projections are not final results, and some close races may take hours or even days to decide.
- Democrats claim control of the US Senate
According to the AP, Democrats have won control of the Senate after Josh Turek won the Iowa race, bringing their total, including independents who caucus with them, to 51 seats. The shift could change the path of the stalled CLARITY Act, reshape committee leadership and bring closer scrutiny of Trump-linked crypto businesses and regulators' decisions. The CLARITY Act failed a Senate procedural vote 49 to 50 in September, and if it is not passed by January, the next Congress starts from scratch. Jerome de Tychey, president of Ethereum France, said nothing will pass without cross-partisan support and warned that the biggest risk for US crypto is becoming a partisan issue.
- Why Shake Shack Stock Jumped 20% in October
Shake Shack shares rose 20% in October according to S&P Global Market Intelligence, amid a broader rotation into restaurant stocks as investors sold AI stocks. The gain was supported by plans to enter Brazil through a licensing partnership, several positive analyst notes, including Morgan Stanley raising its price target from $74 to $79 and UBS lifting its target from $68 to $73, and a late-month jump tied to Nelson Peltz's buyout proposal for Wendy's. Shake Shack will report third-quarter earnings on Thursday, with analysts expecting revenue to grow 16% to $426.3 million and adjusted EPS to fall from $0.36 to $0.34. Investors will watch same-store sales growth and margins, as the company has struggled to turn revenue growth into profit growth.
- Financial markets turbulent, safe-haven assets gain favor, except gold
Volatility from the AI rally has pushed investors toward US Treasuries, the dollar, the Swiss franc and the yen, but gold has not attracted inflows. Gold fell below 4,000 USD/ounce, its lowest level in a year, while central bank gold purchases rose 42% in the third quarter to 321 tonnes. Since the US and Israel first attacked Iran, gold has lost about a quarter of its value and is down 9% year to date in USD terms, the weakest of 14 major asset classes in Bank of America's ranking. Standard Chartered finds the correlation between gold and the S&P 500 has risen to 0.48 on a three-month rolling basis and 0.69 over one month. The bank's analysts say that in the short term, the need to raise cash could lead investors to sell gold rather than buy more.
- Over 2.5 million tax codes stuck: Debt write-off is not enough, a streamlined dissolution path is needed
The Ministry of Finance says that as of 23 October 2026, over 2.5 million taxpayers had ceased operating without completing procedures to close their tax codes or no longer operated at their registered address, including about 643,000 in status 03 and nearly 1.88 million in status 06. The ministry proposes waiving business licence fees and late-payment interest and reducing penalties for late tax filings, but lawyer Nguyen Van Duoc argues the bigger bottleneck is reconstructing years of accounting records, which is nearly infeasible for firms dormant for 10-20 years. He proposes allowing retroactive dissolution dates tied to when the tax authority determines a firm is no longer operating, alongside a streamlined dissolution process. As an example, a firm inactive since 2007 faced more than VND 78.2 million in charges that could fall to VND 6.9 million under the draft. VTCA proposes classifying files and handling cases based on data.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.