Recent confidence in US stimulus packages and data enhancements has prompted investors to be optimistic about the prospects for economic recovery in risky currencies.
U.S. Treasury Secretary Steven Mnuchin said his talks with House Speaker Nancy Pelosi had made significant progress in discussions on stimulus assistance.
Along with the ADP employment data and Gross Domestic Product (GDP) has helped increase in stocks and pushed the greenback dollar to a one-week low of 93.66 against a basket of major currencies.
At the beginning of the Asian session, the New Zealand dollar continued to rise to a one-week high of 0.6623, while the Aussie dollar climbed higher at 0.7170 against the US dollar.
Although Senator McConnell stated that Republicans and Democrats are still far from reaching an agreement on the stimulus package but market sentiment remains positive.
The pound sterling trade unexpectedly rose higher with trading strengthening above the price level of 1.29000 against the USD despite negotiations between the UK and the European Union (EU).
The euro, however, failed to capitalize on the USD depreciation by only modest gains after European Central Bank (ECB) President Christine Lagarde signaled to take a more accommodative approach to inflation.
The Canadian dollar performed better against other major currencies higher against the USD while crude oil prices also showed gains following positive US supply data.
