Dollar Hits One-Month Low as Midterm Results and Mixed Data Shake Markets

The U.S. dollar fell to its lowest level in more than a month on Wednesday. The drop came as investors reacted to the U.S. midterm election results and a mix of economic data. The midterm elections produced divided control of Congress. This outcome reduces the chance of major policy changes, which pushed traders to sell the dollar. Economic reports also weighed on the currency. Some data pointed to slowing momentum in the U.S. economy, adding pressure on the dollar. The dollar index, which tracks the greenback against a basket of major currencies, slid to its weakest point since early October.