Asian session review: USD little changed ahead of first U.S. presidential debate

USD traded flat against other major currencies in the Asian session on Tuesday as market participants were awaiting the first presidential debate Tuesday between the U.S. President Donald Trump and Democratic candidate Joe Biden.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged down 0.02% to 94.26.

The debate is scheduled to take place later on Tuesday (01:00 GMT on Wednesday). Ahead of the first debate, Biden leads Trump by nearly seven points nationally, based on an average of recent polls according to RealClearPolitics. 

Investors also continued to monitor developments on the U.S. new stimulus package. U.S. House of Representatives Speaker Nancy Pelosi announced on Monday that Democrats unveiled a new $2.2 trillion coronavirus relief bill, which she said was a compromise measure that reduces the costs of the economic aid. The new bill would include “new funding needed to avert catastrophe for schools, small businesses, restaurants, performance spaces, airline workers and others”. However, Pelosi did not indicate when there would be a vote on this legislation.