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The dollar retreated on Wednesday as brief gains gave way to anxiety after early exit polls in the U.S. presidential election showed the final outcome was too close to call.

Republican Donald Trump and Democrat Hillary Clinton scored early victories on Tuesday in their bitter presidential race, with Trump winning as expected in conservative Indiana, Kentucky and West Virginia and Clinton capturing liberal Vermont.

The dollar was down 0.4 percent at 104.775 yen JPY= after rising to as high as 105.250 when markets earlier put a higher chance on Democrat Hillary Clinton winning the U.S. presidential election before the vote count.

It fell to 102.550 against the yen last week when polls suggested a tightening U.S. election.

U.S. lawmakers should take advantage of low interest rates by making infrastructure investments and encouraging innovations that boost productivity, a Federal Reserve policymaker said on Tuesday as Americans voted in a presidential election.

Charles Evans, head of the Chicago Fed, waded into the fiscal policy debate just as polls opened, noting that the U.S. central bank would be looking for clarity on the government's direction. An outspoken dove, he said his prediction of 1.75 to 2 percent future economic growth was "informed by some assessment of what policies we are likely to entertain" out of Washington.

Oil prices turned lower on Wednesday as early counting showed Republican Donald Trump and Democrat Hillary Clinton waging a close battle in several crucial battleground states in the U.S. presidential election.

With traders glued to their screens, Brent crude futures LCOc1 only started trading shortly before 0100 GMT, highly unusual for the international oil benchmark.

After seesawing early, Brent prices were trading down over 2 percent from their last settlement, at $45.11 per barrel at 0231 GMT.

U.S. West Texas Intermediate (WTI) crude oil futures fell 2.6 percent to $43.82 per barrel.