Al-Ittihad newspaper – The dollar rises after the Trump-Biden debate


The dollar rose in Europe, on Wednesday, to offset some of the losses it incurred after falling over two days, as dealers held a debate between US President Donald Trump and his rival, Joe Biden.

The dollar index, which tracks the performance of the US currency against a basket of currencies, moved above 94, after losses over two days that followed the dollar reaching its highest level in two months last week.

Futures for US stocks and European stocks fell after hours of debate, which was marked by repeated boycotts by Trump, in a chaotic confrontation in which the two candidates wrangled over the president’s leadership of the Corona virus pandemic, the economy and taxes.

Dealers are also focusing on a US financial stimulus package to mitigate the impact of the coronavirus hit.

The euro lost 0.18 percent against the US currency, to $ 1.1722. The economic indicators recently painted a hazy picture of the economic recovery in Europe, but the morning data were generally positive.

German retail sales increased more than expected in August, raising hopes that household spending will lead the recovery in the third quarter from the coronavirus shock.

The dollar rose 0.28 percent against the Swiss franc to 0.9218 francs, after falling to 0.9191 francs overnight.

The Chinese yuan stabilized after two surveys that showed strong growth in factory activities, which supported recent indications of the recovery of sectors in general in the second largest economy in the world.

The yuan settled in foreign transactions at 6.8141 to a dollar.

Against the yen, the dollar settled at 105.56 yen, less than the two-week high of 105.74 it hit overnight.


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