On Monday, the dollar weakened slightly as investors analyzed the consequences of U.S. President Joe Biden's decision to end his election campaign and give way to another Democratic candidate who will oppose Donald Trump.

The US currency declined by 0.03% against the yen, while the euro rose by 0.07% and the pound added 0.08%.

However, after rising at the market opening on Monday, over the next few hours, the quotes returned to the opening level. Thus, at the moment, we can say that the news did not affect the dynamics of the EUR/USD pair in any way and it is still consolidating under the recently reached resistance zone, indicating potential risks of further decline.