The major currencies continued to show momentum as the European market opened with the US dollar declining while markets awaited the first debate between US presidential candidates.
However, the greenback dollar remained strong around the two-month high against most major currencies at 94.10.
Positive sentiment in the market has been raised by optimism over the fiscal stimulus plan launched by Democrats to get approval from the US Congress and this has led to an increase in global stock markets.
The Aussie dollar rebounded in today's trading session after being backed by reports from Westpac and Citibank withdrawing projections that the Australian central bank would lower interest rates negatively at an October policy meeting.
Meanwhile, the New Zealand dollar also benefited from the current sentiment traded higher against the US dollar.
The commodity currency, the Canadian dollar also recorded an increase although crude oil trade continued to be under pressure from concerns over weak global demand.
As for the European currency, the pound sterling rose to a one-week high even with the strengthening of the USD supported by confidence in trade negotiations between the UK and the European Union (EU) which began today.
In addition, euro trading also increased higher during the European session but price movements still faced pressure from European Central Bank (ECB) concerns over the latest surge in coronavirus cases on economic recovery.
Meanwhile, the market focus is now on the first debate between President Donald Trump and his main rival, Joe Biden, which is scheduled to take place on Tuesday (9.00pm American time).
