TOKYO, Nov 5 (Reuters) - The dollar extended gains against a basket of major currencies on Wednesday after U.S. media projected a victory by Democrat Barack Obama in the U.S. presidential election.
The dollar rose 0.7 percent against a basket of major currencies to 85.187
The euro hit the day's low of $1.2830 after the projection of a win for Obama. The European currency was down 0.9 percent from late U.S. trade at $1.2868 at 0423 GMT.
But the dollar dipped 0.1 percent to 99.66 yen (Reporting by Rika Otsuka)