# Dollar falls as likelihood of a Biden victory grows; yuan gains

> The dollar fell as bets on a Biden election victory grew, and the yuan posted its biggest daily gain in more than four years. Policymakers also set a stronger-than-expected yuan trading band midpoint, signaling tolerance for appreciation.

- Date: 2020-10-09 · published 2020-10-09T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/5558-dollar-falls-as-likelihood-of-a-biden-victory-grows-yuan-gains
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker dollar generally supports dollar-denominated commodity prices, and a stronger yuan can lift Chinese purchasing power for imports. The effect on feed markets is modest.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2020-10-09 | 1 | -1.4% | -6.2 | Falling dollar on rising Biden-victory bets plus a stronger-than-expected PBOC midpoint drove the yuan's biggest daily gain in over four years, directly explaining the -1.42% USD/CNY move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-28 | [Dollar falls against yen, gains on euro in choppy trading](https://feedsoft.ai/events/32900-dollar-falls-against-yen-gains-on-euro-in-choppy-trading.md) | +1.0% | +1.8% |
| DXY | 2025-03-04 | [Euro gains after German debt reform; US dollar falls](https://feedsoft.ai/events/5800-euro-gains-after-german-debt-reform-us-dollar-falls.md) | -1.2% | -0.8% |
| DXY | 2023-11-30 | [US dollar gains but set for worst monthly loss in a year, euro falls](https://feedsoft.ai/events/33379-us-dollar-gains-but-set-for-worst-monthly-loss-in-a-year-euro-falls.md) | +0.6% | -1.2% |
| DXY | 2020-10-09 | [Dollar dips on stimulus optimism, bets on Biden victory \| Reuters](https://feedsoft.ai/events/5561-dollar-dips-on-stimulus-optimism-bets-on-biden-victory-reuters.md) | -0.3% | -1.9% |
| DXY | 2021-01-05 | [Dollar falls as yuan fix lifts risk currencies, Georgia elections in focus](https://feedsoft.ai/events/12069-dollar-falls-as-yuan-fix-lifts-risk-currencies-georgia-elections-in-focus.md) | +0.6% | +0.9% |
| USDCNY | 2021-01-05 | [Dollar falls as yuan fix lifts risk currencies, Georgia elections in focus](https://feedsoft.ai/events/12069-dollar-falls-as-yuan-fix-lifts-risk-currencies-georgia-elections-in-focus.md) | +0.3% | +0.0% |
| USDCNY | 2023-01-05 | [Yuan to Stay Below 6.8 Versus US Dollar This Year as Greenback Will Likely Weaken](https://feedsoft.ai/events/12767-yuan-to-stay-below-6-8-versus-us-dollar-this-year-as-greenback-will-likely.md) | -1.7% | -2.3% |
| USDCNY | 2026-03-13 | [Yuan Holds Up As Risk-Off Lifts The Dollar - Finimize](https://feedsoft.ai/events/11471-yuan-holds-up-as-risk-off-lifts-the-dollar-finimize.md) | +0.4% | -0.5% |

## Sources

- reuters.com: https://www.reuters.com/article/global-forex/forex-dollar-falls-as-likelihood-of-a-biden-victory-grows-yuan-gains-idUSL4N2H01VE/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.