The dollar weakened across the board, as election results still remained unclear. The greenback traded at a six-week low against the euro and was poised for its biggest daily loss against the yen in also nearly six weeks. The sterling slipped to a one-week low versus the euro.

GBP
The sterling rallied against the dollar but slipped to a week low versus the euro. Traders will focus their attention on the BoE monetary policy announcement. Markets expect the BoE to tighten policy to five per cent.

USD
The dollar fell sharply and hit a six-week low against the euro as uncertainty grew over the result of US mid-term elections. The dollar was also poised for its biggest daily losses against the yen in more than six weeks. The greenback has now wiped out all its gains made after a solid US jobs report last Friday.

EUR
There was further evidence that global economic growth is slowing, as eurozone industrial production slipped to -0.3 per cent from the forecasted 0.1 per cent. The release of eurozone retail sales showed a drop to -0.6 per cent from the expected -0.4 per cent.

JPY
Bank of Japan policy board member Atsushi Mizuno said the central bank should raise interest rates gradually as long as recent weaknesses in economic indicators prove to be temporary.