Dollar climbs after Trump, Biden clash in presidential debate

The dollar climbed in the European session on Wednesday, recovering losses after a two-day slide as traders evaluated a debate between U.S. President Donald Trump and Democratic challenger Joe Biden.

The dollar index rose above the 94-mark following two days of losses, which came after the greenback hit a two-month high last week.

European stocks and U.S. stocks futures fell hours after the debate turned into a chaotic encounter over the president’s leadership on the coronavirus pandemic, taxes, and the economy.

The euro fell 0.18% to 1.1722 on the dollar. Economic indicators showed a gloomy European recovery, but the morning data were generally upbeat.

The dollar climbed 0.28% to 0.9218 on the Swiss franc. The Chinese yuan steadied after surveys showed strong factory activity growth. In offshore trade, the currency traded at 6.8141 per dollar.

Against the yen, the dollar steadied at 105.56, below a two-week high of 105.74 hit overnight.