Dollar Down as U.S. Democrats Win Senate Control

The dollar was down on Thursday morning in Asia, hovering near its lowest level in nearly three years as Democrats cinched both U.S. Senate seats on offer in Georgia’s runoff elections.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.12% to 89.392 by 11:31 PM ET.

The USD/JPY pair inched up 0.07% to 103.12. A fresh state of emergency for Tokyo and the neighboring Saitama, Kanagawa and Chiba prefectures is due to be declared in Japan later in the day.

The AUD/USD inched down 0.02% to 0.7800, as Australia’s national cabinet meets on Friday, a month earlier than planned. The NZD/USD pair inched up 0.10% to 0.7296.

The USD/CNY pair inched down 0.07% to 6.4572, after the State Administration of Foreign Exchange signaled a desire for a slower pace of gains on Wednesday.

The GBP/USD pair was steady at 1.3607, remaining below the almost three-year high of $1.3703 seen on Monday.