The Fed on Wednesday will release the minutes from its most recent meeting, with investors looking for any sign of discussions around moderating the pace of interest rate hikes.
Republicans made modest gains in the midterms but Democrats performed better than expected, as control of the Senate hinged on three races that remained too close to call.
The greenback was last 0.31% higher at 135.42 yen, and earlier rose to 135.585 yen, its highest since July 28, after surging 1.57% in the previous session, its biggest single-day gain since June 17.