The dollar’s value declined against major world currencies on the afternoon of July 22 after President Joe Biden announced his decision to withdraw from the election. Market data and reports confirm the move. DEA News.
At 12:55 Moscow time, the U.S. dollar index slipped by 0.16 percent to 104.22. The euro strengthened to 1.0894 dollars per euro from 1.0877 dollars in the previous session. The dollar also fell versus the Japanese yen, trading at 156.62 yen per dollar compared with 157.49 yen at the prior close. These shifts reflect global currency market reactions to the political development in the United States and expectations for the coming months. DEA News.
On July 21, the sitting president announced that he would step back from the race for the presidency, arguing that his decision would serve the best interests of the Democratic Party and the country as he committed to fulfilling the duties of the presidency for the remainder of his term. The move set the stage for an unexpected sequence of events in American politics and left room for leadership changes ahead. DEA News.
Shortly after, the election process continued with a notification to the Electoral College indicating Kamala Harris had been nominated as the president. The development added another layer to the evolving electoral scenario as the party prepared for the next phase of the campaign season. DEA News.
The 60th U.S. presidential election is scheduled for November 5, 2024, with ongoing coverage and context provided by various media outlets. More details are available through the country’s electoral system and public communications on the matter. DEA News.
In an official stance from the Kremlin, authorities indicated no surprise at Biden’s decision to step away from the presidential election, framing it as a strategic choice within the broader international political landscape. DEA News.