NEW YORK, Nov. 7 (Xinhua) -- The U.S. dollar fell against other major currencies in late trading on Wednesday amid market concerns that a split U.S. Congress would affect Washington's economic policy-making over the remainder of U.S. President Donald Trump's term.
As widely expected, the Democrats seized back control of the U.S House of Representatives, while the Republicans managed to defend the Senate majority.
A divided Congress has led to worries that the Democrats would check GOP's efforts to extend tax cuts that had boosted corporate earnings and efforts to increase infrastructure spending.
Analysts believed that a split U.S. Congress would add downward pressure on the dollar, as there will possibly be fewer fiscal stimulus like tax cuts and Washington's protectionist stance would remain unchanged.
In late New York trading, the euro rose to 1.1454 dollars from 1.1412 dollars in the previous session, and the British pound increased to 1.3146 dollars from 1.3093 U.S. dollars in the previous session. The Australian dollar rose to 0.7285 dollar from 0.7215 dollar.
The U.S. dollar bought 113.34 Japanese yen, lower than 113.39 Japanese yen of the previous session. The U.S. dollar fell to 1.0003 Swiss francs from 1.0032 Swiss francs, and it was down to 1.3099 Canadian dollars from 1.3139 Canadian dollars. Enditem
