The dollar traded higher against most major currencies during trading on Wednesday as major U.S. inflation data was closely awaited.

The midterm elections for the US Congress kicked off on Tuesday, and expectations indicate that the results will fluctuate between the Democratic and Republican parties.

Markets are looking forward later this week to America's important headline inflation data, which investors are waiting for to predict the Fed's next steps.

On the trading front, by 18:16 GMT, the dollar index was up 0.6% to 110.3 points, hitting a high of 110.3 points and a low of 109.4 points.

Allen

The USDJPY rose 0.5% to 146.4 at 18:37 GMT.

Lending to Japanese banks last month rose 2.7 percent, beating expectations of a 2.5 percent rise, and the current account recorded a surplus of about 0.67 trillion yen.