TOKYO, Nov 05 (AFP): The dollar topped 114 yen on Wednesday afternoon in Asia, after results from US midterm elections showed that Democrats suffered a thumping defeat.
In Tokyo afternoon trading, the greenback rose to a seven-year high of 114.06 yen, against 113.63 yen in New York Tuesday.
The euro strengthened to $1.2558 and 143.23 yen, from $1.2545 and 142.55 yen in US trade, despite the European Commission slashing its growth outlook for this year.
Late Tuesday, Republicans stormed to victory in US midterm elections, thumping rival Democrats to clinch control of both houses of Congress and assuring a fractious final two years of Barack Obama's presidency.
Riding a wave of frustration with Washington incumbents and the unpopular policies of the Obama administration, Republicans seized at least seven seats from Senate Democrats to claim the majority in both chambers of Congress for the first time since 2006.
The dollar has been stuck in neutral earlier Tuesday, following a rally driven by the Bank of Japan's surprise stimulus expansion last week.
Dollar tops 114 yen in Asia
FE Team | Published: November 06, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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