Dollar edges up slightly after Biden ends re-election campaign

Mr Biden announced he was exiting the race on Sunday, and endorsed vice president Kamala Harris to replace him as the Democratic candidate in the election

The dollar index rose 0.1% to 104.3 after US president Joe Biden that he was withdrawing from the upcoming election. 

The US dollar was slightly higher on Monday, capturing some safe-haven flows, as investors digested US president Joe Biden's decision to end his re-election campaign, which is expected to intensify volatility in the currency market.

Investors also looked to next week's crucial monetary policy meetings at the Federal Reserve — which could signal when the first interest rate cut would be — and the Bank of Japan, which could raise interest rates.