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US dollar slightly higher after Clinton bests Trump in debate

Wednesday, September 28, 2016 - 06:34

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The US dollar earned a boost on Tuesday after Hillary Clinton, who is favoured by Wall Street, got the best of rival Donald Trump in the first US presidential debate.

[NEW YORK] The US dollar earned a boost on Tuesday after Hillary Clinton, who is favoured by Wall Street, got the best of rival Donald Trump in the first US presidential debate.

Most analysts scored the Democrat, widely seen as a better bet for stable US finances, as the winner over Republican Trump, who lashed out at Federal Reserve Chair Janet Yellen as a political tool during the heavily televised debate.

But most key forex pairs, including the dollar-euro, stayed in narrow bands. The US dollar rose to US$1.1217 per euro and 100.36 yen, though it gave ground slightly to the pound, which rose to US$1.3011.

"Mr Trump, whose controversial remarks about trade and foreign policy have set investors on edge, was seen as the loser, at least by the measure of reaction in forex where the dollar rallied broadly in relief," said Boris Schlossberg of BK Asset Management.

"However, perhaps the clearest indication that Mr Trump fared poorly was the two per cent jump in the Mexican peso which has come under relentless selling assault over the past several weeks as Mr Trump surged in the polls," he said.

AFP

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