Reported over 1 year ago
The dollar rose in Asian trading as markets evaluated Donald Trump's perceived victory in the initial US presidential debate. Bloomberg's US currency index increased by 0.2% before slightly retracting, poised for a sixth consecutive weekly gain. Trump's proposal to impose 10% import duties if he wins in November could elevate inflation, potentially delaying interest rate cuts and supporting the USD. Asian currencies remained stable, with the Mexican peso briefly dropping 1%. Equity futures and treasury yields saw slight increases. Biden stumbled early in the debate, favoring Trump in betting odds for the election, while US consumer spending data and election risks in Europe may influence the dollar's movement.
Source: YAHOO