GBP/USD hit a mid-September peak, rising 0.58% to 1.3492.

AP: Democrat Bob Brooks is projected to win the U.S. House seat in Pennsylvania's 7th Congressional District.

Neil Shearing, chief economist at Capital Economics, says a Democratic sweep of both chambers in the US midterms could raise geopolitical risk. The result may prompt President Trump to assert authority and seek a foreign-policy legacy, increasing the likelihood of moves in the Middle East/Iran and on Russia‑Ukraine. Shearing adds congressional probes are likely to constrain his domestic agenda, increasing the incentive to pivot to foreign affairs; midterm losses may limit domestic policy but would not substantially curb his ability to shape US foreign policy. The risk is that Trump’s final two years become a period of heightened geopolitical uncertainty.