Dollar Trims Losses Slightly After Midterms But Outlook Looks Modestly Negative -- Market Talk

0915 GMT - The dollar has trimmed some of its initial losses in reaction to the U.S. midterm election results as the Democrats won't take control of Congress until January, ING's Chris Turner says in a note. Moreover, President Trump doesn't appear to be pushing back against the results, he says. "However, overnight price action could provide a preview for markets in 2027." A Democratic sweep is a mild dollar negative as it could slow AI capital expenditure plans and lead to a prolonged U.S. government shutdown potentially from next summer, he says. The DXY dollar index falls 0.5% to 101.394 after earlier reaching a one-month low of 101.245.(renae.dyer@wsj.com)

(END) Dow Jones Newswires

November 04, 2026 04:15 ET (09:15 GMT)