Dollar drops ahead of Trump-Biden presidential debate

The US dollar fell against most major currencies on Monday, as investors await a very busy week full of events.

Chief among these events is the upcoming US presidential debate between the US President and Republican candidate Donald Trump versus his Democratic rival Joe Biden.

The final reading of the US GDP for Q2 will also be released later this week, amid expectation that the US economy will continue shrinking due to the coronavirus crisis impact.

The market is also anticipating the US monthly jobs report on Friday, which delivers key insight on the state of the US labor market and employment improvement from August.

Several Federal Reserve members had recently expressed that the US economy recovery path from the coronavirus impact is continuing.

The dollar index fell against a basket of currencies by 0.4% to 94.2 points as of 20:02 GMT, after it hit a high of 94.6 and a low of 94.1.